Figure 2
MONETARY CIRCLE
The above describes an uncompleted seven-factor
monetary circle. The issuer starts the circle by buying before selling (BS).
The six trader-transmitters sell before buying (SB). Any number of additional
trader-transmitters may be imagined before closing the line to the
buyer-issuer, but this line ultimately must be closed by the buyer-issuer
making a sale to the last trader-transmitter, and thus the circle is completed
from issue to retirement.
(Close)
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