On The Subject Of Private Credit

[motla68]

But when you are dealing in Lawful Money there is no credit and debit at least as far as the treasury is concerned, everything is 1 for 1, and it looks like what is being considered is not going to be just covered by Gold, but other commodities as well. The credit and debit system is the unequal weights and measures, also in reference to what MJ posted about the scriptures being deposited into the U.S. of A trust, This should come more clear as this reference is researched more digging down beneath the survey layers of trusts to tap the Ecclesiastical layer, I think at that point the Lawful Money argument will become a mute issue. A clue is the 3 aspects of courts and currency, public, private and the in God We Trust = the Ecclesiastical.

[Carl]

I'm attempting to impart to you the terms "money of account" and "money of exchange".
I understand that credit is not "money" per your article.
I see your comparison and contrast between FRNs and credit as "money of exchange" and "money of account" respectively.
I twist nothing.
I feel the phraseology is precise and fits within historical definitions as well.

"Money of Account" may have been used in old France but here we use "unit of account" and that unit of account is a measure in dollars, paid either in Federal Reserve Notes or in Credit Currency.

I appreciate your input..