2min chapter

The "What is Money?" Show cover image

An Examination of Central Banking with Joseph Wang (WiM234)

The "What is Money?" Show

CHAPTER

What Is Money?

All banks have to be a fractional reserve bank by definition. Money has to be created by banks out of thin air, backed against loans. It's definitely a cultural definition that varies over time and across culture. Today, I think what people think of as money is it varies as well.

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