Central Banks and National Currencies I | Wild West Banking | N J Wildberger

What is a Central Bank? and What are its aims? Find out the point of view of a 19th century banker, via a refresher on how modern banks really work, and why the sector is inherently risky and even unstable. We’ll discuss the important differences between Fractional Reserve Banking and Loan/Credit creation, and discuss the imprecision around the terms “printing money“ and “money creation“ that modern commentators often use (somewhat erroneously) to describe what banks do. And we’ll see how an unusual variant of the game of musical chairs pretty well describes the conundrum behind loan / credit creation and the instability it generates. What modern Central Banks are up to is, or should be, crucially important to all of us, as the financial implications on our lifestyles, assets, pensions and social stability are potentially huge. *************** Screenshot PDFs for my videos are available at the website . These give you a concise overview o