Modern Money Mechanics
Publisher: Federal Reserve 2008
Number of pages: 50
The purpose of this booklet 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.
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The author attempted to analyze thoroughly and in depth nearly a score of major problems raised by inflation and chronic fallacies that are in large part responsible for its continuance. Henry Hazlitt is the author of numerous books in economics.
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The silver question is an important and controversial one. The purpose of this book is to present in one volume the background and principal developments in the use of silver as money since the beginning of the nineteenth century.
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