Securities are multiple possession of value of money

In general, source of values of securities (equity, bond etc.) is money (cash flow) acquired in the future. Securities prices are calculated from present value of future cash flow.
Money acquired by company in the future is dynamic value received in the exchange of static value offered by company in the future.
It means money and securities (Value of future transaction) are equal value that securities can be bought with money. It means that value of future transaction (Future cash flow) is involved in present money.
It is explained that money is fractal structure. Money spent in the past transaction is included in present money.
Buying and selling of securities mean reverse status of fractal structure of money. (It is natural structure of money that transactions in the past are included in present money. It is reverse to include future value.).

If the period of future transaction is extended, value of future transaction increases without limitation. If present money is made from value of future transaction, it can be made without limitation. If this situation is permitted, as amount of money that is much more than sum of value of dynamic value (Value of money) that occurs as a result of exchange with static value, value of money decreases significantly. As a result, sharp rise in prices and credit insecurity will be triggered.

It is necessary to prohibit the method to create present money (dynamic value)　from 　value of future economic transaction. It needs to be borrowing of issuer, same as the case of equity. Otherwise, as value of money does not stabilize, financial economic system does not stabilize.

In case of equity and national bond, future value of money is involved in present money.
--- It is reverse structure of money.

Present --> Future (Natural structure :
　　　　　　　　　　　　　　　Present money is involved in future money.)
Future --> Present (Reverse structure :
　　　　　　　　　　　　　　Future money is involved in present money.)

To connect both flow, structure of money circulates.

As number of rotations of money has no limit, it can rotate without limit.
Money can be created without limit. (Multi possession of value of money.)
It means multi possession of value of economic transaction.
If one of value of economic transaction is lost, it seems that value of economic transaction multiplied by (number of rotations +1) is lost.
Securities are risk increase structure. If a transaction is lost, value of the transaction multiplied by (number of rotations +1) is lost.
The more number of rotations increases, the more amount of value lost by loss of one of economic transaction increases.
As dynamic value is multiplied by (number of rotations +1), total amount
of dynamic value is far more than total amount of static value.

Total amount of dynamic value > Total amount of static value

This means that in fact there are not enough things to be bought, though we think we are rich to see the amount of money. So this rotation should be prohibited.
If amount of money is more than amount of static value, buyout etc. will happen. So buying and selling of dynamic value which includes future cash flows should be prohibited.

To introduce system that value of money (dynamic value) occurs only when economic transaction is done, value of money of future transaction is not possessed in advance, so paradox like this never happens.

Structure of money is like the figure (Fig.21) by securities like equity. Securities are issued as future value of money and the securities can be exchanged for present money. So money is constructed as composition of future money and present money.
(Present money is dynamic value that was used for exchange with static value.)
(Future money is dynamic value that will be used for exchange with static value in the future. There is no static value that can be exchanged with the future money. (Money of no economic value).)

It can be understood that any amount of money can be created to see the figure.
- Money is created from future money. Any amount of future money can be created to extend the period.
- It lowers the value of money. - It seems that there are more economic values than real economic values (static value).
- If one economic transaction is lost, it seems that value is lost manyfold.
- Risk increase structure.

To compare (Fig.21) and (Fig.20), Future money is in the area of static value. It means that economic value of present money is future money. Money that has no static value of transaction target occurs. (It works like counterfeit bill).

(Fig.22) Present money structure is revolving at high speed and steady-state situation. (As Future value is included.). Revolving structure (Money structure that includes securities) is present money structure.