The only logically coherent and scientifically valid function of money/currency is to record the measure of value and its divisions so that the value of portions of indivisible wealth may be negotiated.
As a record of value, the unit used to measure value must obey the mathematics of measure and the science of passive stability i.e. Passive BIBO Currency (Note: that stability is a requirement for measure). This value recording function colloquially understood as “providing liquidity” can be universally performed and accessed without any arbitrary limits or conditions using a standard technical specification and without any requirement for the unit to “circulate”.
The notion that money is an “object” that must “circulate” in order for value to be generated is a logical and scientific absurdity and represents the basis of the rationales being exploited to justify the actions being taken by authorities to deal with the current crisis. However, if the “circulation” model of money is not accurate then such actions cease to have legitimacy as they are based on a false model of reality...
Via Sepp Hasslberger