FED Vice Chair-digital dollar is the future.

[devil21]

I agree and yeah, there's a lot of confusion as to what fractional reserve banking actually is. It's been awhile since I've thought about it, I just remember no one seemed to agree on the definition.

I find it is easiest to translate the issue out of money and into some other kind of tangible good or commodity.

The best book that breaks it down to the nuts and bolts, directly from the Chicago Fed. Modern Money Mechanics pdf file. It's clean, I uploaded myself. Some of the contents are no longer applicable because of Fed policy changes, such as 10% reserves required at time of publishing which is no longer in effect afaik (zero reserve required now, pure money printing). Worth saving a copy of because it's pretty damn hard to find online anymore.

https://pdfhost.io/v/8TPRNiyIa_MODERN_MONEY_MECHANICS

 

[ClaytonB]

The best book that breaks it down to the nuts and bolts, directly from the Chicago Fed. Modern Money Mechanics pdf file. It's clean, I uploaded myself. Some of the contents are no longer applicable because of Fed policy changes, such as 10% reserves required at time of publishing which is no longer in effect afaik (zero reserve required now, pure money printing). Worth saving a copy of because it's pretty damn hard to find online anymore.

https://pdfhost.io/v/8TPRNiyIa_MODERN_MONEY_MECHANICS

This is good for understanding the mechanics of money multiplication (credit expansion), but it doesn't give the bigger picture (why the Fed issues "high power money" in the first place) because that picture is ultimately political. For any lurkers spinning up on this topic or looking for a good introduction, in addition to MMM consider Rothbard's The Mystery of Banking (free in ebook form or purchase a hardcopy) and/or this excellent documentary from the Mises Institute: