Money vs. Currency
The fundamental distinction mainstream economics ignores — and the one that changes everything.
Fekete / Menger / Bischoff
The SF School definition is precise: Money is that kind of wealth which has a constant or nearly constant marginal utility. Currency is a medium of exchange in the form of money or other wealth, or redeemable or irredeemable notes.
The dollar is currency, not money. Gold is money. This distinction is not semantic — it is the foundation of Fekete's entire analytical framework. When you collapse money and currency into a single concept, you lose the ability to diagnose what is happening to the monetary system.
Why It Matters
Every tool in the Toolkit — the Gold Basis Monitor, the backwardation thesis, the interest rate framework — depends on maintaining this distinction. The basis measures the relationship between money (gold spot) and currency-denominated promises (futures).