This is the first of a play list of videos that explain banking, money supply and fractional reserve banking. Click link below to view all the content. https://www.khanacademy.org/economics-finance-domain/macroeconomics/monetary-system-topic/macro-banking-and-the-expansion-of-the-money-supply/v/money-creation-in-a-fractional-reserve-system-ap-macroeconomics-khan-academy
Laws that make it illegal for you to print your own £5 or £10 notes have been in place since 1844. But when these laws were passed, they overlooked the fact that money can also exist in the form of bank deposits (the numbers in people’s bank accounts). Because of this oversight, banks now have […]
Remember cheque books, does anyone use these anymore now we are in the digital age of debit/credit cards, ATMs and Internet Banking ? Try explaining to your children how the banking system used to work in the old days, they won’t believe you.