Credit money

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Credit money is non-commodity money which consists of non-interest bearing claims that are not redeemable on demand. Usually, credit money is money that was originally issued as a redeemable money-substitute but whose redemption was later suspended either indefinitely or until some future date. It retains value because it has general acceptance as a medium of exchange. Credit money is money in both the broader and narrower senses.[1]


  1. Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-06-30.