Excuse the nerdy nitpick, I get the point but technically as far as "actual" money goes that's the coins. Electronic entries in bank ledgers are not legal tender.
One can of course go further and question if banknotes and coins should be called actually money. Today the nominal value is completely disconnected from what the metal is really worth, it's not like with gold coins back in the day. And once collective belief in the value is lost fiat money quickly becomes worthless. Zimbabwe and Venezuela are recent examples.
Have to correct your nitpick. What you're talking about is currency not money. Not being legal tender doesn't mean it's not money. The majority of money sits as electronic entries in each country's central bank. https://www.investopedia.com/terms/c/currency.asp#:~:text=Th....
True. I'm talking about private bank books, the kind of "electronic money" regular people use, which I assume is what the comment above referred to. Since only financial institutions have access to central bank accounts.
One can of course go further and question if banknotes and coins should be called actually money. Today the nominal value is completely disconnected from what the metal is really worth, it's not like with gold coins back in the day. And once collective belief in the value is lost fiat money quickly becomes worthless. Zimbabwe and Venezuela are recent examples.