Outside money

Outside money is a term that refers to money that is not a liability for anyone "inside" the economy. It is held in an economy in net positive amounts. Examples are gold or assets denominated in foreign currency or otherwise backed up by foreign debt, like foreign cash, stocks or bonds. ^[1]

1. ^ Inside and Outside Money, Ricardo Lagos, Federal Reserve Bank of Minneapolis Research Department Staff Report 374, May 2006.

• Inside money