This reprint presents Modern Money Mechanics as it was originally published by the Federal Reserve Bank of Chicago in editions ranging from 1961-1992. The last

Understanding Money Mechanics provides the intelligent layperson with a concise yet comprehensive overview of the theory, history, and practice of money and ban

What is money? The purpose of this booklet, published by the Federal Reserve Bank of Chicago, is to describe the basic process of money creation through the "fr

From the introductory. The purpose of this booklet is to describe the basic process of money creation in a "fractional reserve" banking system. The approach tak