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A real bill, as its name suggests, is just a notice of payment due that typically the wholesale merchant sends to the retail merchant along with his shipment of goods demanded most urgently by the consumers.It is useful to think of the bill as a security in the process of "maturing into the gold coin" that the consumer will expend when he buys the underlying good.But which Donald — or combination of Donalds — turns up in the next 100 days is anyone’s guess. With majorities in the Senate and House, he can appoint who he wants, to whatever job he wants.He can also, like his reality TV ‘Apprentice’ character, fire whomever he wants. But he needs results quickly because these total powers last only 24 months, at which point we will see the great American bi-annual referendum on the president, known as the Congressional elections.Following that, he taught Austrian economics as visiting professor at the Francisco Marroquín University in 1995.A type of short- or intermediate-term credit that is repaid with money generated by the assets it is used to purchase.There have been so many Trumps on display in the past few days that it’s anyone’s guess who will actually turn up for the first 100 days.The first few days have been extraordinary and kind of scary in terms of the president’s grasp on economic reality. The no-nonsense, straight-talking, waste-cutting, four-times bankrupt, business genius who will slash taxes and get corporate America purring again? You know the pussy-grabbing, dodgy-dealing, locker-room Trump, who is one scandal away from impeachment? Or what about Town Hall Trump — the gold-plated, KFC-chewing, class-warrior capitalist who’s gonna stick it to the Man for the little guy? The wall-building, hombre-watching, China-bashing, alt-right flirting, bring ‘em all back home Donald, who will make America great again by cutting it off from the rest of the world.

For example, they do not make sense for fixed assets, such as real estate, or depreciable assets, such as machinery.

Adam Smith in his Wealth of Nations worked out the foundations of a second type of credit that is based, not on savings, but on consumption.

Later this theory was pejoratively called "Real Bills Doctrine" by its detractors.

Examples are: bread, seasonal clothes, fuel in winter; the services of the miller and the baker; the spinner and the weaver, etc.

Seasonal goods will be removed from the market by the consumer during the next 91-day period, before the turn of seasons changes demand.

He is a proponent of the gold standard and critic of the current monetary system.

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