Saturday, March 14, 2015

Testing Some Currency Transactions

Testing some currency transactions in the monetary system overlayed by object classes if Cirrency, Account and Currency Loan Contracts will serve to describe these object class components and how they interact.

Keep in mind that currency does not circular.  It does not move.  It is a permanent record on the Fort Knox Currency Server identified at the unit dollar level by a unique IPv6 code and related to a variable IPv6 account owner code.

From the virtual viewpoint currency can be said to be in circulation when it is owned by a variable identified account.  In reality currency does not move, only account ownership changes.

All currency in circulation is a representation of debt in two categories:

Goveremt Debt (Vertical Currency)

Private Debt (Horizontal Currency)

The aggregate all currency in circulation is equal to the sum total of all money in all accounts and the sum total of all currency loan contracts.  The totals of all three are equal.

A currency transaction is actually the changing of account ownership of a fixed unit of currency.  Buying and selling things using currency as a medium of exchange.  Spending money does not "move" it anywhere in the object class of  Currency.  It does however increase/decrease the sum total of funds in each party's account.

If the transaction involves paying off a loan or receiving a loan then the transaction must relate to the Loan Contract object class.




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