Our current monetary system is totally wrong because its structure is based on the wrong foundation. That foundation is that debt creates money. Money is the product of debt. Creation of debt relationship creates money. Paying back debt puts money out of existence.
Money is born from nothing by contractual debt establishment and dies through payback to satisfy the contract that gave it birth. It is a constant process ongoing process. During the time between birth and death money exists as our money supply for us to use in daily money buying/selling transactions and a stored money working fund to draw from.
Our monetary system is a negative based system owing its existence and operation entirely to the fact that it is driven by the obligation at the micro analysis level to reduce a negative state (money borrowed that is owed) to zero. Balance sheet accounting is system to control this structure.
Debt is the dominant object that drives the structure of the system. Money is a function of debt that serves the dominant object. That structural relationship is absolutely dysfunctional and primarily serves the designers of this system: Bankers and Financiers.
To sum up the concept of the thing called money as currency:
The purpose of money is to serve the current debt system structure.
That relationship is structurally wrong and dysfunctional.
The purpose of money and fundamental basis for a money system must be to serve as a medium of exchange. Debt is only one the unlimited things that money can buy in a market world where everything is for sale. Debt like anything else is just a thing to buy. Debt is a contractual relationship and that relationship is simply one of the applications of a monetary system.
Money is an operating system. What money does are the Applications of the system. Debt is just an single Application. In the current monetary system Debt is the operating system and money is a creation Application.
Money must be a Universal Operating Information System open to all the multitude of Applications that run on the system. Debt must be designed to operate as just another App that runs on the system.
That requires that money as the Operating System be a positive primary Object building block with object properties and primitive methods to implement its operating system relationships.
Money must be defined is a positive persistent conceptual object with methods and behaviors required to support its applications. At the fundamental object level each unit of money must therefore have a unique identity and unit value.
The appropriate Monetary Operating System designer is the government. In other words, we, the users of our own system. System administrators may be the Banking System.
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