THE GUIDED WALK · THE CAUSAL SPINE · 11 STOPSSYNTHETIC ZERO-STATE — PREVIEW ONLY — NOT LIVE DATA
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Why would a kind of money ever fight to keep you from leaving it?
Every money defends itself by making the exit expensive. If that is the mechanism, where would the strain show up first?
FROM THE BOOK · NOT MEASURED
Monopoly money versus market money
The market for money today is monopolized. Money is not credit: if the trade ends right now, that is money. Monopoly money holds its place with two levers — permissioned settlement and exclusive production — and defends itself by raising the all-in cost of exit. A market money cannot capture its users; it has to win them.