True money stores its value. Substance is the value that is used for a true monetary system for true personal property.


It is the principal that is with the “…store of value…” and is the money. The equation I = P X i X T has removed from it the TIME VALUE OF MONEY that is i X T the equation simplifies to I = P where P is PRINCIPAL. ( See Universal Standard Number 5)



Where T = Time in the equation I = P X i X T

Time is used for profit as interest etc., in a double-entry bookkeeping system.

The true definition of money and the true definition of value as it is relating to money in this equation is unrelated to time.

As evidenced by Mr. John Exter, he defines Money as a former member of the Board of Governors of the Federal Reserve System. In 1948 he served first as adviser to the Secretary of Finance of the Philippines and then as the Minister of Finance of Ceylon (now Sri Lanka) where he establishment their central banks. In 1954, he served as vice president in charge of international banking and precious metals operations at the Federal Reserve Bank of New York. He was also a member of the Council of Foreign Relations, the Committee for Monetary Research & Education states in writing that

True US Dollar Money Unit Personnal Property – Money Functions

Source in the ECONOMIC EDUCATION BULLETIN, Vol. XIV No. 5, Published by AMERICAN INSTITUTE for ECONOMIC RESEARCH, of May 1974, Great Bafrington, Massachusetts 01230, on page 3 titled “Toward a New World Monetary System” by John Exter



The “…store of value…” of real money is with the principal in the equation above. P is principal and i and T are removed from the equation above since this is the representation of the “..time value of money.” for interest that is a profit. No interest is required in a single entry bookkeeping system. The value is with the PRINCIPAL in a single entry bookkeeping system.