The End of Money and the Future of Civilization by Thomas Greco

Author:Thomas Greco
Language: eng
Format: epub, mobi
Tags: ebook, book
ISBN: 9781603582247
Publisher: Chelsea Green Publishing
Published: 2009-04-28T16:00:00+00:00

The net balances show that Alpha owes Bravo $4,000 ($43,000 – $39,000), Alpha owes Charlie $7,000 ($51,000 – $44,000), and Bravo owes Charlie $4,000 ($61,000 – $57,000). If each were to pay the others what is owed, Alpha would pay Bravo $4,000, Alpha would pay Charlie $7,000, and Bravo would pay Charlie $4,000. This is shown in the diagram in Figure 12.1.

However, in the clearing process each participant effectively pays into or takes out of a virtual “pool.” In this case, Alpha puts in $11,000, Bravo puts in nothing and takes out nothing, and Charlie takes out $11,000. This is depicted in Figure 12.2.

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