Interview: George Selgin (The Secret Method Banks Use To Create Money)

In this engaging conversation, George Selgin, a prominent expert on banking and monetary policy, unpacks the secretive methods banks use to create money. He challenges conventional views on bank operations, exploring how banks fund loans and manage risks. Selgin also discusses the evolution of electronic money and the complexities of the Federal Reserve’s interest rate policies. The talk touches on the implications of innovations like FedNow versus private payment systems, culminating in a humorous reflection on future economic debates.