I occasionally review reading classical and symbolic logic. So I tend to now and then. An account in a bank may be several things. To count anything is of course arithmetic in action. So an ‘a count’ refers to the content of the account. When banks got into the broader trading business virtually becoming trading houses they were able to leverage the effective creation of ‘virtual money’ to far higher ratios than traditional limits on loans to assets (on account deposits in the bank). Banks got into trouble when they did so and of course the public had to bail them out when their bad investments flopped.
As may be said, the ‘current mess’ of the 2008 Wall Street and Banking flop developed while paper dollars existed. Yet paper dollars are little used in financial transactions on Wall Street as you must know. Those billions being tossed about are done with electronic, virtual money. C.D.O.’s or collateralized debt obligations, short selling and arbitrage may be done, so far as I am aware, without any actual cash transfer.
One of the problems is that much theoretical dollar debt and dollar assets were created without any corresponding actual cash to back that up. there may even be some kind of odd inflationary effect actualized by the disparity between the virtual creation of ‘electronic money’ without correspondence to paper money if there is a demand for real cash as if it were a run o0n the bank.
I would guess that some people could mint their own money electronically as debt so long as any credible institutions were willing to accept the electronic representation of dollars as valuable approximately in ratio to the claim of value even if it is not so,. With the technical skill of the 11 dimensional quants it may be possible to do electronic money laundering turning fictious dollars into real ones albeit with the generation of a little inflation that in turn might be hidden or passed on.
Without some correspondence between some real and finite commodity such as difficult to counterfeit dollars there is a practical chance that electronic minting of dollars can be accomplished through the ordinary Wall Street and Banking instruments such as over-priced housing; one might want to intentionally restrict demand to drive up prices temporarily and cash out the virtual money at that point allowing the deflation of the corresponding object of money value to be passed on to those holding the debt obligations.
Things of that sort probably occurred in the run up to the 2008 banking crash-fortunately the people that fixed the problem were also part of the problem prevalently, so they will be untroubled that the entire structure will fail or too small to put over again. Gresham’s Law of bad money following good also draws many people into the pyramid schemes that beset society over the centuries of civilization. As it is in the energy market so it is in politics and television programming-the leading edge players tend to profit most.
I am not terribly optimistic that either American major political party will be up to the challenge of revising capitalism such that it would reflect real world modern conditions. Anything can occur in theory however improbable so one may always hope for a miracle of common sense political reform.
It seems to me that both major U.S. parties support globalization from differnet angles as a way to concentrate wealth in elites and draw in the largest global market for consumers while also drawing in cheaper global labor. The founders of the U.S.A. were an elite with good intelligence able to design a new system of government without being crushed by the establishment of the day. Today that sort of needed radical reform is virtually impossible and the best political theories common in politics are fairly dumb and anachronistic.
U.S. conservativism is exceedingly liberal economically so far as to make capitalism a tool for the creation of a new de facto global royalty of wealth. The interests of the majority of American citizens just don’t mean anything to either party. Instead the homosexual crowd and some traditional internal proletariats have been recruited into becoming economic shock workers along with the external proletariats to make u.S. workers politically loyal and entirely amoral drone consumer-followers of corporatism.
The two 2012 party presidential candidates may each be black Americans providing an example of the Toynbean transition of the former internal proletariat to a power majority status as the previously dominant class falls into decay. The Toynbean transition of western capitalism into a global or universal state seems to be taking a moral syncretism shored up with ample amoral medical research supports from wealthy biological developers. A global wealth class lording it over a planetary proletariat of idiot-workers within a declining planetary ecosphere seems to be the way things are developing.
One might speculate that at some point the proletariat would revolt against the elites as their stagnant class represses individual capitalism and invention by independent yet poor and intelligent souls, however with maybe 9 billion people and an overused world resource base probably the collapse of the existing political order will create global anarchy and chaos, while the continuity of the concentrated wealth governing will produce a similar variety of decay.
There are of course alternate courses of development that could perhaps have better prospects for simultaneous social justicity, individual prosperity of the greatest number, a recovery of ecospheric health and so forth through limiting capitalism and corproations to smaller levels of concentrated wealth and power and so forth yet politically reform is as I wrote above, improbable.