2min chapter

The "What is Money?" Show cover image

"Money: Free and Unfree" with George Selgin (WiM209)

The "What is Money?" Show

CHAPTER

Central Banks Never Face Resource Constraints When It Comes to Creating the Stuff

We don't have even te gold exchange standard. So it isn't, although there is such a thing as the bank of international settlements,. It's not analogous to that tat the bank of england and the bank of the united states played during the gold exchangeStandard. And tet, they're not holding the gold for those counterpart well, they maye, they may have gold, but they're not. Central banks or not, central banks don't don't depend on any of the reserves held by the bank ofinternational settlement in the way that they kept at other central banks in the 19 forty thirties. The federal reserve doesn't need to get access to anything to be able

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