Is Sound Money the Answer? with George Gammon (WiM268)
The "What is Money?" Show
00:00
Why the Fed Controls Bank Reserves?
There was a long period of time where central banking, people didn't know the names of central bankers. In my opinion, it's all just psychological. The reserve requirement was definitely not constraining them. So effectively what you had is the banking system creating as much money as they wanted to create. There was no constraint. Well, I'm not going to say no constraint, but the Fed wasn't constraining them, that's for sure.
Transcript
Play full episode
