The "What is Money?" Show cover image

An Examination of Central Banking with Joseph Wang (WiM234)

The "What is Money?" Show

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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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