Outside money
External money is a money creation in which the creation of new money is not based on a corresponding increase in the indebtedness of private economic subjects.
Typical examples of this are the purchase of foreign currency and government debt by a central bank . From an accounting perspective, the assets and liabilities of private economic entities cannot be offset by a consolidated balance sheet. That is, the net amount of external money in an economy is not zero.
Based on Gurley and Shaw's theoretical position, external money is real net worth; H. a positive change in the real value of private economic wealth, and can therefore trigger the wealth effect.