The term “Note(s)” (debt instrument), like “Money” (medium of exchange), and “Cu

The term “Note(s)” (debt instrument), like “Money” (medium of exchange), and “Currency” (“in circulation”) has been abused.

Technically, money proper must consist of commodity money. All else is a commodity money substitute:

– Scrip ( currency substitute that replaces legal tender. a form of credit and documentation of debt)>

– Token-prepaid-money-substitute (bitcoin: divisible tokens) >

– Cheque-non-transferrable-claim-on-account >

– Note-transferrable-claim-on-account >

– Banknote-claim-on-deposits >

– Share-in-the-corporation-assets >

– Fiat-Share-in-the-economy : Fiat Money (What we all use today)

The rest are various financial instruments that are less liquid.