Goods, Money and Purchasing Power: Who Owns Money?

It’s time to introduce a subject called “the ownership of money” that is, “who owns money?”

Apparently, the quids in your hands now are yours and that’s all, isn’t it? Even if you borrowed them, thanks to the fact that money has the additional qualities listed above, you are free to use them as yours, provided you return the agreed amount as agreed.

Well, it’s not exactly true that those quids in your hands now are simply yours, but you will bring this all into focus later. The point here is that now we’re talking about the birth of the purchasing power. That is, the exact meaning of “the ownership of money” is, “when and how does the purchasing power of money gets born, and who is the owner of money the moment its purchasing power gets born?”

When those quids begin to circulate, after they’ve been produced and accepted the first time, it’s only partially true that they belong to those who have them in their hands at that moment. Because you will discover that someone is charging an interest on those quids.

Property is the legally protected right to the enjoyment of goods. And this includes the power of disposition over them, transferring them, receiving something in exchange for transferring them, lending them, and demanding and charging an interest for loaning them. Each of these characteristics proves that the natural person or legal person in whose availability the purchasing power of money gets born actually owns it, despite, above and beyond and so much for any legalese gaps, throwing off track and bad faith. He or she, natural person or legal person, who has the power of disposition of money and its purchasing power the moment it gets born is the owner of that money and its purchasing power the moment it gets born, period. So much for what is often, rightfully and accurately called “property of money upon issuance”.