ABSTRACT
Money is created in three operations: formation of income; transfer of income formed; destruction of income. Usually, it is true, the operation is represented in two stages: the money created would stay in the economy for a more or less lengthy time and it would be destroyed only at the end of the credit operation that had generated it. The temporal separation of creation and destruction of monetary units is corroborated by a reflexion that seems decisive: if money disappeared at the instant of its creation, the economy would never have a positive money at its disposal. The truth, experimental and logical, is totally different: money comes to life in double entry accounting, simultaneously on the asset and on the liability sides of the accounts, in banks and their clients. The creation of money is an emission since the money created is algebraically nil.
