Modern Money Mechanics
by Federal Reserve Bank Of Chicago · first published 2011
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As mentioned elsewhere here, Modern Money Mechanics booklet published by the Federal Reserve Bank of Chicago is a very good read. It explains the concept of "money" at a very fundamental level. The booklet talks about how and where money is "created",…
on “Inside the Bitcoin advocates’ closed-door meeting with federal regulators” ↗…valuation. (i.e. contrary and refuted by Carl Menger's works). There are systemic issues that need to be acted upon. For the detailed mechanics, you can find the report released in 1994 by Chicago Fed, titled Modern Money Mechanics. Its 44 pages. You can extrapolate from that, taking into account Basel 3 (bis.org) to understand the rest. The inevitable outcomes backed by history point to a currency crisis based in stochastic chaos.…
on “'social network' attacking pesticide critics shuts down after investigation” ↗How is no one mentioning the Fed's book Modern Money Mechanics? https://upload.wikimedia.org/wikipedia/commons/4/4a/Modern_M... Then there is the accounting system the Federal Reserve uses: FAM: https://www.federalreserve.gov/aboutthefed/financial-account...
on “What to read to understand central banking” ↗…notes. It was a small step from printing notes to making book entries crediting deposits of borrowers, which the borrowers in turn could "spend" by writing checks, thereby "printing" their own money." Modern Money Mechanics - Federal Reserve Bank of Chicago [1] http://en.wikisource.org/wiki/Modern_Money_Mechanics/Introdu...
on “Inside the Bitcoin advocates’ closed-door meeting with federal regulators” ↗…Fed document available to the public that includes a description of the changes in this variant implementation. In a fractional reserve system, the published material by the Fed in their publication "Modern Money Mechanics" walked through how the rates limit the amount a bank can loan leaving a fractional percentage of assets for any given expansion based on those rates. There is no such similar publication for the Basel…
on “Trump's Tariff on Cheap Chinese Imports Will Cost Big Tech Billions” ↗