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Trading on account OR exchange

PostPosted: Tue Jul 21, 2009 9:45 am
by consumerpada
Walker Todds afadavit ( google it, or it is on the forum) clearly makes out the distinction in accounting between trading on account and trading in exchange.

The later is how I keep my ledger now (a record of exchange) Verified True.

Any company that is trading on account is actually NOT trading in 'money' it is all made up - this is where I agree with V's book.

The only distinction I make is that it is possible to use money as an agreed valuable medium between you an I.

My role in terms of verifying the value of the family trust centers around the fact that any company I find who is claiming monies from my family must be able to show the true loss ..contract....etc..on their ledger of exchange, otherwise they are liable. Period. Counter claims will ensue.

I reserve the right to come for your company in court if you are trading on account and pretending it is 'money' of value which it is not.

:puke: Trading on account as you know is rife in the commercial world and companies that are harrasing common people claiming monies, need to be challanged properly. In actual fact they are holding no real debt, it is a provable make believe.

An example fo real trading is: when I go to the farm shop, and buy a cabbage - the farmer losses the cabbage, I gain a cabbage. I compensate the farmer, there is no loss we have exchanged. Keep it simple.

Clean. Honest. Commonly known as good.

:sun: