# Attempt to model, using balance sheets, private sector money velocity. Private Banks: your assets are $630 trillion derivatives, Loans, Reserves, Insurance and your liabilities are Interest payments, Short-term loans, Net Worth Private money dealers: your assets are Short-term loans, Interest payments and your liabilities are Insurance, Short-term loans Private Cash Hoards: your assets are Short-term loans, Insurance and your liabilities are Money-market accounts # The money-market accounts get interest, created by private sector balance sheet expansions. The created money is spent on real goods. Adelson: your assets are $Billions Money-market deposits and your liabilities are Gambling supply Adelson: your assets are Corrupt public officials, Baseball team and your liabilities are Money # The "Money" liability on the last line is created entirely by the private sector, and has velocity. The Quantity Theory of Money does not measure that velocity.