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The Money Substitutes

  • Audio Mises Daily
December 16, 2009

Tags Global EconomyMoney and BanksCapital and Interest TheoryMonetary TheoryValue and Exchange

A money-substitute can be embodied either in a banknote or in a demand deposit with a bank subject to check ("checkbook money" or deposit currency), provided the bank is prepared to exchange the note or the deposit daily free of charge against money proper, writes Ludwig von Mises (1881–1973).

This audio Mises Daily is narrated by Jeff Riggenbach.

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