Chaion
------
> In sofar as the means of exchange is concerned, it need not have any
intrinsic value. But it requires that every agent in the exchange should be
neither in a debit nor in a credit.
Paul
----
In a system of credit money the aggregate credits equal aggregate debits, but
this is certainly not the case for individual creditors.
Chaion
------
One cannot keep on accumulating the monetary units.
Since the monetary units are naught, it is stupid enough to accumulate the
naught units in exchange for one's own labour products.
Paul
----
It is quite normal in a credit economy for the aggregate of credit balances
to grow over time. These units are non-null, they represent a real
power of command over labour.
Paul Cockshott
wpc@cs.strath.ac.uk
http://www.cs.strath.ac.uk/CS/Biog/wpc/index.html