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A short course of lectures
«The monetary system»





Inception, Monopolies and Measurement Aggregates as Classical Mechanisms for Issuing MoneyTHE RISE AND FALL OF CIVILIZATIONSFrom Excessive Accumulation Derives Non-level Playing FieldsPast and 21st-Century Money AnalysisThe Origin of SecuritizationA Trifunctional Monetary Support SystemNEW MONETARY AGGREGATES DEFINE EXTENDED CONCEPTS OF MONEYTHE INVESTMENT MULTIPLIERThe Securitization Concept and Its ImplementationALLOCATED ROLES AND GOALS IN THE INTERNATIONAL MONETARY SET-OPDIRECT SYSTEMATIC IMPACT OF ACCOUNTING STANDARDSThe Modern Seignorage PrivilegeThe European Stability Mechanism and the European Central BankINTERNATIONAL MICROECONOMIC REGULATION COORDINATION SPECIFICSA Metallic System Allowing Intrinsic Measurement Stamping: Ingots to CoinageThe Third Function: A ReserveDetermining the Appropriate Amounts of AccumulationA New Aggregated Conceptual Approach Allowing Operational Transactions and Financial Ones to be ReconciledToday's International Situation and IssuesGUARANTEES ON RECEIVABLES: A SECURITIZATION MULTIPLIERLegal Tender and SeignorageTRADITIONAL REGULATORY MEASURES TO ENSURE RANKS' STABILITY LIMITSSHADOW OR PARALLEL RANKING SYSTEMSTHE EMERGENCE OF A NEW SEIGNORAGEDefining New Classes of Monetary Aggregates: M5 and M6The Answer to HeterogeneityDEVIATIONS FROM EFFECTIVE RISK CONTROL: THE CDS CASESecuritization Financing via Trust-Derived "Shadow Capital" Originating from Retirement Accounts, Direct Savings and Trade DeficitsResilient Open Questions in a New EnvironmentTransparency Effect and Risk of Centralization: The CCP ExampleThe Consistency-Based Principle of BookkeepingSegregation and Derived Aggregates: M5' and M6'The EU Answer to InequalitiesA SINGLE WORLDWIDE LANGUAGE; ACCOUNTING AND FINANCIAL STATEMENTSTime: A Different DimensionMONEY TODAYSpreading the Seignorage Rights between Chartered Financial Institutions Accepted to Trade Instruments and the Central Banks' Right to Drive ValuesTHE CURRENT INTERNATIONAL SYSTEMTHE OPERATIONAL SCOPE OF MONEY AND ITS OSEThe Utility of M5 and M6 AggregatesQUESTIONS AND ANSWERSTHE FISCAL POLICY COORDINATION ISSUE COMPARED WITH THE USAQUESTIONS AND ANSWERSDEFINING NEW MONEY – THE DIFFERENCE DETWEEN SHADOW RANKING MONEY, VIRTUAL MONEY AND THE NEW AGGREGATESDouble-Entry ConsequenceThe RealitiesTHE MONETARY INTERACTION OF SYSTEMSFrom the Known Money Multiplier through the Banking System to a New PerspectiveLINKS BETWEEN MONETARY FUNCTIONSThe Contemporary Basis for Money Expression: Accounting LedgersNEW HORIZONS CONCERNING EXCHANGES, TIME AND GUARANTEESThe International Set-upQUESTIONS AND ANSWERSMONEY DEFINED BY ITS FUNCTIONALITYTHE BANKING UNIONLegal Segregation between Different Types of Money, Depending on Underlying Guarantees and TransferabilityA Need for Mathematical ApproachesGrounding the Guarantees of Stamping: From an All-Metallic System to Paper BillsMODELLING THE MONETARY WINDBAG ANALYSISModern limes – Liberation and Growth of the Money Supply. The Facts Presented in Monetary Units and Resulting Regulatory NeedsTRANSNATIONAL REALITIES ABOUT FINANCIAL INSTRUMENTS' MARKETS AND SYSTEMIC RISK MEASUREMENTEUROPE AND THE USAMONETARY REGULATION AND FOLLOW-UPSocial Time and AnticipationREPLACEMENT OF BANK LOAN FINANCING BY SECURITIZATION AND THE IMPACT OF PRO-CYCLICAL EFFECTSA RETROSPECTIVE ANALYSIS OF CLASSIC MONEY IN OPERATIONTHE ORIGIN OF MONEY; FROM ANTIQUITY TO MODERN TIMESWhat Information Will These New Aggregates Yield?The G20's Reasons to ExistMonetary Effects of GuaranteesDebt versus Equity Instruments: The Need for Big DataGENERAL FRAMEWORKMonetary Aggregates in Central BanksWHAT CAN WE LEARN FROM ANCIENT AND MORE MODERN HISTORY?QUESTIONS AND ANSWERSMONEY ACCUMULATIONS AND INTERACTIONSTHE PARADOX OF AVAILABILITY OF MONEY MASSES AS A POLICY TOOL FOR THEIR HOLDERSMONETARY EVOLUTION BACKED BY ECONOMIC GROWTHCauses Underlying Emerging Macroeconomic RealitiesThe Monetary SystemNEW FORMS OF MONETARY EXCHANGEThe "Double-Posting" PrincipleThe Resulting BreakthroughNew Policies to Stabilize the Banking SystemBEFORE ACCOUNTING FOR ANY TRANSACTION – THE SAMPLING TOPIC. THE MIX UP BETWEEN NUMBERS AND FORMULAEQUESTIONS AND ANSWERSSpeed Efficiency, Risks and Market SwitchesThe Implosion Risk of the Money TrapTHE DRIVING ROLE OF MONETARY VELOCITYDESCRIPTION OF THE CURRENT OPERATIONAL SYSTEM: DISTINCTION RETWEEN NATIONAL AND INTERNATIONAL SYSTEMSQUESTIONS AND ANSWERSTRADITIONAL MONETARY AGGREGATESThe First Function: Price Setting – Money as a Measurement Standard-Based Source of InformationTHE DEMISE OF TRADITIONAL CONCEPTUAL APPROACHESThe World Bank GroupThe New Nature of Money in Electronic limesThe Coordination of Goals Assigned to the G20One Key Consequence of the New Set-up: The Final TrapHandling the Social Obstacles of Monetary UnificationTroikaCOORDINATION ISSUES INSIDE THE E0R0Z0NE AS OPPOSED TO INTERNATIONALThe US Answer to InequalitiesG5 to G20AcknowledgementsMoney as a Measurement Instrument: The Need for StabilitySHADOW BANKING IS DIFFERENT FROM VIRTUAL MONEYGlossaryTHE INSUFFICIENCIES OF THE CURRENT SYSTEM FOR SATISFYING INFORMATION NEEDSDegrees of Contagion ("Interconnection")QUESTIONS AND ANSWERSThe General Monetary Policy on Both Sides: Reinforce Equity, Regulate Transparency – A Dead EndThe World Trade OrganizationCITIZENS EMERGING IN THE PROCESS OF FINANCIALIZATIONSEIGNORAGE AND THE PRIVILEGE OF ISSUING AND STAMPING MONEYCHARTER 1. From Antiquity to Modern limes; Monetary Development Over 5000 Years. What History Explains and Comparison within New ContextsINTERNATIONAL EXCHANGES – INTERACTIONS AND MONETARY ZONE COHERENCEGOVERNMENTAL AND CENTRAL BANK MONETARY OPERATIONSAT THE CORE OF THE ISSUE: THE DEFINITION OF CURRENCYQUESTIONS AND ANSWERSDEFINING "TODAY'S MONEY"The Disputed Strategy: Addressing Macroeconomic ImbalancesThe Fair Value Conceptual Mistake Contributes to Instability and DistrustTHE NECESSARY APPROACH IN ACCOUNTING: A HIERARCHY OF DANGEROUSNESSDefinition of Aggregates and Functions UsedCONCEPTS AND RULES TO REPORT EXCHANGES AND DETERMINE THE IMAGE OF FINANCIAL STATEMENTSINTERNATIONAL COORDINATIONValue ConsequenceA Tentative Formula: STD (Serval-Tranie-Douady)THE NEW ENVIRONMENT: BROADENING THE DEFINITION OF CURRENCYTOWARDS THE FULL LIBERATION OF MONEY FROM ANY REFERENTIALWHERE MISLEADING STANDARDS GENERATE DISTORTED IMAGES Valuation Incertitude in Accounting StandardsARE CENTRAL RANKS PREREQUISITE INSTITUTIONS THAT SHOULD REMAIN INDEPENDENT FROM SOVEREIGN AUTHORITY?The Bank for International SettlementsFROM A PRACTICAL POINT OF VIEW, WHAT ARE THE DATA LIMITATIONS FOR DETERMINING THE VALUES OF NEW MONETARY AGGREGATES?THE INTRINSIC DEFINITION OF MONEYThe Appraisal Spark Plug that Drives a Continued "Fair Value" CrisisBOOK BALANCES ARE EITHER MONEY OR POTENTIAL MONEYGUARANTEES AND THE EXTENSION OF MONETARY INSTRUMENTS LIBERATED FROM UNIFIED RACKING AND ISSUANCE CONSTRAINTSTHE PRESENT-DAY NON-UTILITY OF CLASSICAL AGGREGATESFOLLOWING OP ON REGULATING MONEY ISSUANCE IN A CHANGED ECONOMIC ENVIRONMENT. MONETARY SUPERVISION: AN ANCIENT QUESTIONCONSEQUENCES OF THE BASIC ACCOUNTING PRINCIPLESWhat is the Conceptual Essence of Contractual Money, Constraints and Implications?STABILITY AND GUARANTEESTraditional Seignorage in GeneralRedefining the Monetary System and Measurements of Monetary Flow – Towards M5 and M6Social Roles of Money: Transferable, Reserve or Bubble? How to Determine Sociological Thresholds from Different DimensionsHOW TO GROUND TRUST IN MONEY: AUDITED FINANCIAL STATEMENTS FOR GOVERNMENT AND CENTRAL BANKSThe Regulation and Observation Limits Already Accepted, Compared with the Realities of Modern ExchangesDirect Financing and Hedging of RiskEVOLUTION OF MONEY INTO A SEGREGATED INTERMEDIATION TOOL WITH IMPRECISE FRONTIERSQUESTIONS AND ANSWERSTHE EXTENSION OF MONEY WITH DISINTERMEDIATIONResulting Needs for Standardization, Regulation and SupervisionM5/M6 and their Derivatives M5'/MG': Determining Definitions and UsesTHE GROWING ISSUES OF THE SIZE OF THE MONETARY ZONES – RESEARCH FOR OPTIMUMThe International Monetary FundLinguistic Definition of the Word "Money"The Second Function: A Payment and Trading InstrumentEXTENDING THE FIELD OF DEDTS AND GUARANTEESDEVELOPMENT OF A GLOBAL FINANCIAL MARKET ECONOMYMONEY ISSUANCE THROUGH CENTRAL BANK INTERVENTIONSMICRO- AND MACRO-PRUDENTIAL SURVEILLANCE AGENCIES' FRAMEWORKACCEPTED CONCEPTS THAT COMPLEMENT TRADITIONAL MONETARY ANALYSIS – LIMITS AND EVOLUTIONMONETARY ASPECTS OF FINANCIAL STATEIVENTSTHE IMAGE PRESENTED BY FINANCIAL STATEMENTS INFLUENCES THE ANALYSIS OF ECONOMIC DATA AND TRANSACTIONAL EXCHANGESTHE INTRINSIC NEW CONCEPTUAL VIEWS ON MONEYMoney Guarantees and Trust
 
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