It is commonplace for people to say that they have ‘money in the bank'. This is not true.
No one has ‘money in the bank'. The only thing that a bank has is a general ledger (see double entry bookkeeping) that records the money owed to it and the people to whom it owes money. Banks are just giant exercises in bookkeeping, whatever mystique they like to create around the process.
There is no tangible asset that backs up this process of debt management.
All money is debt: there is nothing more to it than that. As such all that a bank does is acknowledge the debts owed to it and by it. As a result, the only approximation to the tangible existence of money that actually exists is a bank statement.
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