• Preview 1: What is Money? Episode 1

  • Jan 3 2022
  • Length: 5 mins
  • Podcast

Preview 1: What is Money? Episode 1

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  • Summary

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    The purpose of this episode is to describe the basic process of money creation in a "fractional reserve" banking system. The approach taken illustrates the changes in bank balance sheets that occur when deposits in banks change as a result of monetary action by the Federal Reserve System - the central bank of the United States. The relationships shown are based on simplifying assumptions.

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