If what money is was not a representation of debt but was Positive money with no relationship to the existence of debt as a function of money creation then where would the representation of debt exist?
Stick all the debt is a master debt record. Loaning existing Positive money is just one of the many applications of money. A Loan is a legal contract representation of debt. Create a national and international Master Loan Data Repository of who owes what to whom. Money is just a medium, perhaps the mandatory medium that establishes the loan and pays back the loan.
Debt/Loan has nothing to do with money other than the medium of exchange. The medium of exchange role of money is far greater than the role it plays in Debt/Loan. Debt/Loan is investment, not money. It can be traded as an asset but so can cars. For conversion of a car to a boat or a hamburger requires conversion of the car to the medium of exchange unless and outright trade (plus money) is made.
Paying for hamburgers with a car instead of money gives new meaning to "Drive Up Window"
The future world of Money has only 3 primary records:
One Master Money Record. All the Positive money in the USA. One Place. uniquely serialized in units of One Digital Dollar. Block chain transaction record. Money does not move. Only the account owner changes with transactions.
One Master Account Record. All the accounts of financial entities that have an ownership connection to some amount of money (or none) in the Master Money Record.
One Master Debt/Loan/Bet Record. The value, in money units of all money owed/owing related to the Master Account Record of all entities owed/owing to. It consists of all the contracts between parties for all legal Debt/Loan/Bet/Speculation agreements. It records the real time value owed and payment history.
Simple Accounting. Banks as clearing houses. Any entity can loan for any reason, individually, collectively. Its the market, Jake. Each record has its own history.
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