IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-137-28643-7_33.html
   My bibliography  Save this book chapter

Money or Credit?

In: The Gold Cartel

Author

Listed:
  • Dimitri Speck

Abstract

‘Your money or your life!’ the bank robber shouts and still only gets credit. This is because today’s money is credit. This is also why it is called ‘credit money’. It has always two sides: someone who owes it and someone who holds the credit claim. There are very few exceptions (involving insignificant amounts – such as a profit disbursement by a central bank in the case of an upward revaluation of gold) in which money created ‘net’ – that is, without there is being a corresponding debt. Other than that, our money is, today, nothing but a credit claim that is associated with a debt of the same amount.

Suggested Citation

  • Dimitri Speck, 2013. "Money or Credit?," Palgrave Macmillan Books, in: The Gold Cartel, chapter 0, pages 221-231, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-28643-7_33
    DOI: 10.1057/9781137286437_33
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-137-28643-7_33. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.