Money is debt.

[Slade3200]

Explain to me how the US could ever default or file bankruptcy??

Also, you state... "The National Debt is the financial obligations of the US government resulting from deficit spending over a period of many years..." This is not accurate and is an example of the many false depictions that are floating out there.

Only a small part of the National Debt is from deficit spending... The majority of the debt is from Treasury bond investment, not "borrowing" as you state. Some is owned by foreign investors and most of it is owned domestically. Citizens and many companies have these bond investments in their retirement accounts and portfolios. China and Japan own a big chunk because they reinvest their profits from our trade deficit to keep from putting the money into their own economy. Thats a whole different discussion.

Point is, there is way too much fallacy revolving around this discussion and we need more honest and intelligent discussion that is geared towards deeper understanding and strategy rather than political manipulation.

One word. GREECE!

One word... Idiot.

Greece was on the euro the US is a sovereign nation in control of its own currency. Different economic situation altogether... Go learn a little about economics and then come back and join the discussion.

The euro didn't cause any other countries downfall, why just Greece? The US is in control of it's own currency that is not borrowed or owed. And that is about $19.5 Trillion.

When MMTers start implying that debts don't matter. You need to just give them the middle finger. They won't listen to reason or evidence.

I don't think anybody claims that Debts don't matter... The claim is that the debt is not fully understood and it is misrepresented by many conservatives to drive fear. The debt is a responsibility that needs to be properly understood and managed. Yes we are 19T in debt but we also have a 19T GDP. I'd like to see a better ratio but we are not in as dire of a situation as some people paint.

Let me ask a simple question... What number would you like to see the debt be at?

 

[Moonglow]

Money is debt

Not near as bad as kids and wives...

 

[Slade3200]

Debt is the result of those who do not know how to handle their money...

That is true for those who run income dependent economies like citizens and businesses and Greece... our national economy is a different ballgame. Our debt isn't a reflection of "spending more than we make". I've already explained the make up of our debt as a reflection of investments. G5000 and the OP have explained the relationship about money and debt. If you don't understand the economic difference between your finances and that of our country then you need to do some homework before engaging in these kind of discussions

Debt is the resul of those who can't handle their finances, whethet they be a bation, a state, a business, a family, or an individual.

Do you realize that the majority of our debt is domestic investment in treasury bonds? Are you saying this is a mismanagement of our nations finances? are you against the issuance of these bonds? Please explain?

 

[Norman]

Debt is the result of those who do not know how to handle their money...

That is true for those who run income dependent economies like citizens and businesses and Greece... our national economy is a different ballgame. Our debt isn't a reflection of "spending more than we make". I've already explained the make up of our debt as a reflection of investments. G5000 and the OP have explained the relationship about money and debt. If you don't understand the economic difference between your finances and that of our country then you need to do some homework before engaging in these kind of discussions

Debt is the resul of those who can't handle their finances, whethet they be a bation, a state, a business, a family, or an individual.

Do you realize that the majority of our debt is domestic investment in treasury bonds? Are you saying this is a mismanagement of our nations finances? are you against the issuance of these bonds? Please explain?

Your debt is at over 100 % of the GDP. Are you 5 years old, MMT theorist, or do I need to explain to you why having this amount of debt is not good?

Have you heard about Greece?

 

[Zander]

The OP is correct - All U.S. dollars are debt. They are neither redeemable for anything by their issuer, nor is there a limit on how many can be created. They represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects.

But the mistake the OP makes is simple - "Money" is not fiat currency. That is just a piece of paper backed by another piece of paper.

Real "Money" is gold, silver, palladium, platinum.

 

[Toddsterpatriot]

The OP is correct - All U.S. dollars are debt. They are neither redeemable for anything by their issuer, nor is there a limit on how many can be created. They represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects.

But the mistake the OP makes is simple - "Money" is not fiat currency. That is just a piece of paper backed by another piece of paper.

Real "Money" is gold, silver, palladium, platinum.

They represent only a claim against the “good faith and credit” of the United States government-

I didn't get my dollars from the government, why would I have a claim against the government?

 

[Zander]

The OP is correct - All U.S. dollars are debt. They are neither redeemable for anything by their issuer, nor is there a limit on how many can be created. They represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects.

But the mistake the OP makes is simple - "Money" is not fiat currency. That is just a piece of paper backed by another piece of paper.

Real "Money" is gold, silver, palladium, platinum.

They represent only a claim against the “good faith and credit” of the United States government-

I didn't get my dollars from the government, why would I have a claim against the government?

You may not have received them directly from the government, but they originated from the government.

So long as we all agree that FRN's (those little pieces of green paper) are valuable they are valuable. You can use them as a medium of exchange. I use them too.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government. In other words, a piece of paper backed by a piece of paper.

 

[Toddsterpatriot]

The OP is correct - All U.S. dollars are debt. They are neither redeemable for anything by their issuer, nor is there a limit on how many can be created. They represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects.

But the mistake the OP makes is simple - "Money" is not fiat currency. That is just a piece of paper backed by another piece of paper.

Real "Money" is gold, silver, palladium, platinum.

They represent only a claim against the “good faith and credit” of the United States government-

I didn't get my dollars from the government, why would I have a claim against the government?

You may not have received them directly from the government, but they originated from the government.

So long as we all agree that FRN's (those little pieces of green paper) are valuable they are valuable. You can use them as a medium of exchange. I use them too.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government. In other words, a piece of paper backed by a piece of paper.

You may not have received them directly from the government, but they originated from the government.

So what? It doesn't say the government has to give me anything in return, it doesn't say it's redeemable for silver or gold. It's not a claim against the government.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government.

Whether FRNs are accepted by the people or not, the government doesn't owe me something just because I hold one.

 

[Slade3200]

Debt is the result of those who do not know how to handle their money...

That is true for those who run income dependent economies like citizens and businesses and Greece... our national economy is a different ballgame. Our debt isn't a reflection of "spending more than we make". I've already explained the make up of our debt as a reflection of investments. G5000 and the OP have explained the relationship about money and debt. If you don't understand the economic difference between your finances and that of our country then you need to do some homework before engaging in these kind of discussions

Debt is the resul of those who can't handle their finances, whethet they be a bation, a state, a business, a family, or an individual.

Do you realize that the majority of our debt is domestic investment in treasury bonds? Are you saying this is a mismanagement of our nations finances? are you against the issuance of these bonds? Please explain?

Your debt is at over 100 % of the GDP. Are you 5 years old, MMT theorist, or do I need to explain to you why having this amount of debt is not good?

Have you heard about Greece?

What number would you like to see the debt be at?

 

[Zander]

The OP is correct - All U.S. dollars are debt. They are neither redeemable for anything by their issuer, nor is there a limit on how many can be created. They represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects.

But the mistake the OP makes is simple - "Money" is not fiat currency. That is just a piece of paper backed by another piece of paper.

Real "Money" is gold, silver, palladium, platinum.

They represent only a claim against the “good faith and credit” of the United States government-

I didn't get my dollars from the government, why would I have a claim against the government?

You may not have received them directly from the government, but they originated from the government.

So long as we all agree that FRN's (those little pieces of green paper) are valuable they are valuable. You can use them as a medium of exchange. I use them too.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government. In other words, a piece of paper backed by a piece of paper.

You may not have received them directly from the government, but they originated from the government.

So what? It doesn't say the government has to give me anything in return, it doesn't say it's redeemable for silver or gold. It's not a claim against the government.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government.

Whether FRNs are accepted by the people or not, the government doesn't owe me something just because I hold one.

That's exactly my point. If the shit hits the fan, you (and I) have a worthless piece of paper.

 

[Norman]

Debt is the result of those who do not know how to handle their money...

That is true for those who run income dependent economies like citizens and businesses and Greece... our national economy is a different ballgame. Our debt isn't a reflection of "spending more than we make". I've already explained the make up of our debt as a reflection of investments. G5000 and the OP have explained the relationship about money and debt. If you don't understand the economic difference between your finances and that of our country then you need to do some homework before engaging in these kind of discussions

Debt is the resul of those who can't handle their finances, whethet they be a bation, a state, a business, a family, or an individual.

Do you realize that the majority of our debt is domestic investment in treasury bonds? Are you saying this is a mismanagement of our nations finances? are you against the issuance of these bonds? Please explain?

Your debt is at over 100 % of the GDP. Are you 5 years old, MMT theorist, or do I need to explain to you why having this amount of debt is not good?

Have you heard about Greece?

What number would you like to see the debt be at?

Let's start with less than 100 % of GDP.

 

[Toddsterpatriot]

The OP is correct - All U.S. dollars are debt. They are neither redeemable for anything by their issuer, nor is there a limit on how many can be created. They represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects.

But the mistake the OP makes is simple - "Money" is not fiat currency. That is just a piece of paper backed by another piece of paper.

Real "Money" is gold, silver, palladium, platinum.

They represent only a claim against the “good faith and credit” of the United States government-

I didn't get my dollars from the government, why would I have a claim against the government?

You may not have received them directly from the government, but they originated from the government.

So long as we all agree that FRN's (those little pieces of green paper) are valuable they are valuable. You can use them as a medium of exchange. I use them too.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government. In other words, a piece of paper backed by a piece of paper.

You may not have received them directly from the government, but they originated from the government.

So what? It doesn't say the government has to give me anything in return, it doesn't say it's redeemable for silver or gold. It's not a claim against the government.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government.

Whether FRNs are accepted by the people or not, the government doesn't owe me something just because I hold one.

That's exactly my point. If the shit hits the fan, you (and I) have a worthless piece of paper.

Your point was your FRNs are a claim against government. That's not the case.

 

[Slade3200]

That is true for those who run income dependent economies like citizens and businesses and Greece... our national economy is a different ballgame. Our debt isn't a reflection of "spending more than we make". I've already explained the make up of our debt as a reflection of investments. G5000 and the OP have explained the relationship about money and debt. If you don't understand the economic difference between your finances and that of our country then you need to do some homework before engaging in these kind of discussions

Debt is the resul of those who can't handle their finances, whethet they be a bation, a state, a business, a family, or an individual.

Do you realize that the majority of our debt is domestic investment in treasury bonds? Are you saying this is a mismanagement of our nations finances? are you against the issuance of these bonds? Please explain?

Your debt is at over 100 % of the GDP. Are you 5 years old, MMT theorist, or do I need to explain to you why having this amount of debt is not good?

Have you heard about Greece?

What number would you like to see the debt be at?

Let's start with less than 100 % of GDP.

super smart answer!

 

[Zander]

The OP is correct - All U.S. dollars are debt. They are neither redeemable for anything by their issuer, nor is there a limit on how many can be created. They represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects.

But the mistake the OP makes is simple - "Money" is not fiat currency. That is just a piece of paper backed by another piece of paper.

Real "Money" is gold, silver, palladium, platinum.

They represent only a claim against the “good faith and credit” of the United States government-

I didn't get my dollars from the government, why would I have a claim against the government?

You may not have received them directly from the government, but they originated from the government.

So long as we all agree that FRN's (those little pieces of green paper) are valuable they are valuable. You can use them as a medium of exchange. I use them too.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government. In other words, a piece of paper backed by a piece of paper.

You may not have received them directly from the government, but they originated from the government.

So what? It doesn't say the government has to give me anything in return, it doesn't say it's redeemable for silver or gold. It's not a claim against the government.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government.

Whether FRNs are accepted by the people or not, the government doesn't owe me something just because I hold one.

That's exactly my point. If the shit hits the fan, you (and I) have a worthless piece of paper.

Your point was your FRNs are a claim against government. That's not the case.

SO you want to be pendantic? OK. I'll play.

I wrote : "They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

 

[Toddsterpatriot]

They represent only a claim against the “good faith and credit” of the United States government-

I didn't get my dollars from the government, why would I have a claim against the government?

You may not have received them directly from the government, but they originated from the government.

So long as we all agree that FRN's (those little pieces of green paper) are valuable they are valuable. You can use them as a medium of exchange. I use them too.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government. In other words, a piece of paper backed by a piece of paper.

You may not have received them directly from the government, but they originated from the government.

So what? It doesn't say the government has to give me anything in return, it doesn't say it's redeemable for silver or gold. It's not a claim against the government.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government.

Whether FRNs are accepted by the people or not, the government doesn't owe me something just because I hold one.

That's exactly my point. If the shit hits the fan, you (and I) have a worthless piece of paper.

Your point was your FRNs are a claim against government. That's not the case.

SO you want to be pendantic? OK. I'll play.

I wrote : "They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

The government has no obligation to me simply because I hold an FRN.
No obligation, no need to extract taxes from subjects to repay me.

"They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

The part where you confused FRNs for Treasury Bonds. Try this.

"They (Treasury Bonds) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

No argument there.

 

[Zander]

You may not have received them directly from the government, but they originated from the government.

So long as we all agree that FRN's (those little pieces of green paper) are valuable they are valuable. You can use them as a medium of exchange. I use them too.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government. In other words, a piece of paper backed by a piece of paper.

You may not have received them directly from the government, but they originated from the government.

So what? It doesn't say the government has to give me anything in return, it doesn't say it's redeemable for silver or gold. It's not a claim against the government.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government.

Whether FRNs are accepted by the people or not, the government doesn't owe me something just because I hold one.

That's exactly my point. If the shit hits the fan, you (and I) have a worthless piece of paper.

Your point was your FRNs are a claim against government. That's not the case.

SO you want to be pendantic? OK. I'll play.

I wrote : "They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

The government has no obligation to me simply because I hold an FRN.
No obligation, no need to extract taxes from subjects to repay me.

"They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

The part where you confused FRNs for Treasury Bonds. Try this.

"They (Treasury Bonds) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

No argument there.

What is an obligation of the United States?

Federal Reserve Note - Wikipedia, the free encyclopedia

Federal Reserve Notes, also United States banknotes or U.S. banknotes, are the banknotes used in the United States of America. Denominated in United States dollars, Federal Reserve Notes are printed by the United States Bureau of Engraving and Printing on paper made by Crane & Co. of Dalton, Massachusetts. Federal Reserve Notes are the only type of U.S. banknote currently produced.[1] Federal Reserve Notes are authorized by Section 16 of the Federal Reserve Act of 1913 (codified at 12 U.S.C. § 411) and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System.[2] The notes are then put into circulation by the Federal Reserve Banks,[3] at which point they become liabilities of the Federal Reserve Banks[4] and obligations of the United States.[2]

 

[Toddsterpatriot]

You may not have received them directly from the government, but they originated from the government.

So what? It doesn't say the government has to give me anything in return, it doesn't say it's redeemable for silver or gold. It's not a claim against the government.

But once enough people stop agreeing, you and I will have nothing but the "good faith and credit" of the US Government.

Whether FRNs are accepted by the people or not, the government doesn't owe me something just because I hold one.

That's exactly my point. If the shit hits the fan, you (and I) have a worthless piece of paper.

Your point was your FRNs are a claim against government. That's not the case.

SO you want to be pendantic? OK. I'll play.

I wrote : "They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

The government has no obligation to me simply because I hold an FRN.
No obligation, no need to extract taxes from subjects to repay me.

"They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

The part where you confused FRNs for Treasury Bonds. Try this.

"They (Treasury Bonds) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

No argument there.

What is an obligation of the United States?

Federal Reserve Note - Wikipedia, the free encyclopedia

Federal Reserve Notes, also United States banknotes or U.S. banknotes, are the banknotes used in the United States of America. Denominated in United States dollars, Federal Reserve Notes are printed by the United States Bureau of Engraving and Printing on paper made by Crane & Co. of Dalton, Massachusetts. Federal Reserve Notes are the only type of U.S. banknote currently produced.[1] Federal Reserve Notes are authorized by Section 16 of the Federal Reserve Act of 1913 (codified at 12 U.S.C. § 411) and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System.[2] The notes are then put into circulation by the Federal Reserve Banks,[3] at which point they become liabilities of the Federal Reserve Banks[4] and obligations of the United States.[2]

Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank.

Yup, you bring them an FRN, they have to give you a new one, on demand.

No need to tax any subjects for that trade.

 

[Zander]

That's exactly my point. If the shit hits the fan, you (and I) have a worthless piece of paper.

Your point was your FRNs are a claim against government. That's not the case.

SO you want to be pendantic? OK. I'll play.

I wrote : "They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

The government has no obligation to me simply because I hold an FRN.
No obligation, no need to extract taxes from subjects to repay me.

"They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

The part where you confused FRNs for Treasury Bonds. Try this.

"They (Treasury Bonds) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

No argument there.

What is an obligation of the United States?

Federal Reserve Note - Wikipedia, the free encyclopedia

Federal Reserve Notes, also United States banknotes or U.S. banknotes, are the banknotes used in the United States of America. Denominated in United States dollars, Federal Reserve Notes are printed by the United States Bureau of Engraving and Printing on paper made by Crane & Co. of Dalton, Massachusetts. Federal Reserve Notes are the only type of U.S. banknote currently produced.[1] Federal Reserve Notes are authorized by Section 16 of the Federal Reserve Act of 1913 (codified at 12 U.S.C. § 411) and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System.[2] The notes are then put into circulation by the Federal Reserve Banks,[3] at which point they become liabilities of the Federal Reserve Banks[4] and obligations of the United States.[2]

Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank.

Yup, you bring them an FRN, they have to give you a new one, on demand.

No need to tax any subjects for that trade.

Why don't you just admit that you were wrong rather than keep moving the goalposts? A FRN is an obligation of the United States. PERIOD.

Either way, I'm done with this exercise is pedantry.

 

[Toddsterpatriot]

Your point was your FRNs are a claim against government. That's not the case.

SO you want to be pendantic? OK. I'll play.

I wrote : "They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

The government has no obligation to me simply because I hold an FRN.
No obligation, no need to extract taxes from subjects to repay me.

"They (FRN's) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

What part of that is untrue?

The part where you confused FRNs for Treasury Bonds. Try this.

"They (Treasury Bonds) represent only a claim against the “good faith and credit” of the United States government- which is basically the government’s ability to extract taxes from its subjects."

No argument there.

What is an obligation of the United States?

Federal Reserve Note - Wikipedia, the free encyclopedia

Federal Reserve Notes, also United States banknotes or U.S. banknotes, are the banknotes used in the United States of America. Denominated in United States dollars, Federal Reserve Notes are printed by the United States Bureau of Engraving and Printing on paper made by Crane & Co. of Dalton, Massachusetts. Federal Reserve Notes are the only type of U.S. banknote currently produced.[1] Federal Reserve Notes are authorized by Section 16 of the Federal Reserve Act of 1913 (codified at 12 U.S.C. § 411) and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System.[2] The notes are then put into circulation by the Federal Reserve Banks,[3] at which point they become liabilities of the Federal Reserve Banks[4] and obligations of the United States.[2]

Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank.

Yup, you bring them an FRN, they have to give you a new one, on demand.

No need to tax any subjects for that trade.

Why don't you just admit that you were wrong rather than keep moving the goalposts? A FRN is an obligation of the United States. PERIOD.

Either way, I'm done with this exercise is pedantry.

An obligation they never have to redeem that gives you the right to exchange it for another just like it.

Why don't you just admit that you were wrong rather than keep moving the goalposts?

Sure, when you admit, "They (FRN's) represent only a claim against the “good faith and credit” .....basically the government’s ability to extract taxes from its subjects" was wrong as well.

 

[SwimExpert]

In actuality, money is created for lending. That much is true. But that is a lie of omission which leaves out the fact that same money is destroyed as the debt is paid back.

If there was no debt, people would be really struggling to acquire enough cash to start a business.

Money is anything that is recognized to contain value and is accepted for the purpose of exchanging value. Once upon a time some spices were considered money. By growing spices one created money. Livestock was once a form of money, and their manure was also considered valuable. So in that sense, every time Donald Trump says some bullshit he is creating money.