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THE MECHANICAL MONEY BLOG

Money and Economics from an Inquisitive Modern Mechanical Perspective




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WEDNESDAY, FEBRUARY 16, 2022


THE GIFT OF 'ACCESS INTO THE MARKETPLACE'




 Money would be much easier to understand if everyone started thinking about
'access into the marketplace'. Especially, it would easier to understand the
creation of money.





The essence of the creation of money is the gift of 'assess into the
marketplace'. Ownership of money is ownership of tangible evidence that
intangible 'access into the market' has been granted. 

Owning money is like owning a ticket. If we characterized money as a 'ticket',
we would intuitively understand that money embodies evidence of intangible
'assess into the marketplace'. Numbers on the ticket would represent the
increment of access granted by each ticket.

We can still talk about money as we presently do. Just don't think of money as
being debt or an IOU. Think of money as having the characteristics of a ticket
which carries within it the intangible of access.


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Posted by Roger Sparks at 2/16/2022 01:46:00 PM 2 comments:
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SUNDAY, FEBRUARY 13, 2022


A LOGICALLY COHERENT THEORY OF RETAIL BANKING AND THE CREATION OF MODERN MONEY



 You don't need to be a banker to put together a logical theory of banking and
money. You just need to lay all the clues into an interlocking order. We will
try to do that in this article.

This becomes a story of banking and the creation of modern money. Printed money
is not part of this story, nor is the valuation of money.


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Posted by Roger Sparks at 2/13/2022 08:09:00 AM 2 comments:
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Labels: banks, create money



FRIDAY, FEBRUARY 4, 2022


ADDING PRIVATE BANKS TO THE MECHANICAL EXERCISE



This is a follow-on for the recent post "A Mechanical Exercise Tracking the
Creation and Lifespan of Fiat Money" (METC). In the original exercise, the user
made all of the economic decisions. Private banks were money users. In this
post, we introduce private banks into the role of decision-making for the
process of creating money.




Figure 1. The raw material for money
creation by private banks.

In METC, we needed a virtual storehouse to store real tokens that we could later
call "money". Here we introduce a private bank's version of a virtual storehouse
which is, of course, real all the time.


In the drawers of this new storehouse (Figure 1), we have existing money sources
that the banks can use to ensure that new borrowers have access to existing
money. So how is it that new fiat money can be created in this new version of
METC? Private banks take systematic advantage of the pool of money on deposit by
making a loan without linking loan risk or deferred spending to any one account.
The loan is made by creating a deposit account for the borrower. Loan risk is
spread to the entire body of depositors, including the lending bank. Deferred
spending is transformed into accelerated spending. As a result of the loan, the
amount of money on deposit in the banking system is measured as increasing. *

Read more »
Posted by Roger Sparks at 2/04/2022 07:10:00 AM 4 comments:
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