Cryptocurrency

[shikamaru]

I think that line is drawn at qualifying for FDIC.

If you are wealthy enough to bond yourself, for your lending practices you are a knowingly privatized bank. If you do not know that the depreciation of your stock certificates (inflation) is intended to be compensated by your collection of usury then you are a member state bank without knowing you are a bank, at all.

Almost everybody endorsing private credit from the Fed misses that point altogether.

Interesting use of the term, bond.

From the wikipedia page on margin (finance):

The collateral for a margin account can be the cash deposited in the account or securities provided, and represents the funds available to the account holder for further share trading. On United States futures exchanges, margins were formerly called performance bonds.

A performance bond can also be known as a surety bond. Now, we are in the land of the law of sureties.

Also concerning performance bonds:

The term is also used to denote a collateral deposit of good faith money, intended to secure a futures contract, commonly known as margin.

Good faith money is also known as earnest penny, Arles penny, or God's silver (in Latin Argentum Dei) ... an offering or token used to bind a bargain.

Now that I think more about it, one's estate of their worldly possessions or one's property (collateral) acts as a "performance bond" to one's debts bound therein.

FDIC, sureties, performance bonds, collateral .... all have to do with risk management and transference.