[OPE-L:1894] RE: electronic money

Paul_Cockshott (wpc@cs.strath.ac.uk)
Tue, 23 Apr 1996 01:23:42 -0700

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If the banks are the only debtor, nobody would be debtors. We all are =
creditors. This means the banks can never be a creditor.

Paul C
banks are only debtor whose debt functions as money.
They are creditors with respect to their borrowers,
but, the debts of these are not money.