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",…
…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.…
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...
…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...
…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…
正如这里其他地方提到的，芝加哥联邦储备银行出版的《现代货币机制》（Modern Money Mechanics）小册子非常值得一读。它从极其本质的层面上解释了“货币”的概念。这本小册子探讨了货币是如何以及在哪里被“创造”出来的，……
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",…
……估值。（即与卡尔·门格尔的著作相悖并被其驳倒）。必须着手解决一些系统性问题。至于详细的运作机制，可以参考芝加哥联储在1994年发布的报告，题为《现代货币机制》（Modern Money Mechanics）。一共44页。在此基础上结合巴塞尔协议III（bis.org）推导，就能理解剩下的部分了。历史所支撑的必然结局，指向了一场基于随机混沌的货币危机。……
…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.…
怎么没人提美联储那本《现代货币机制》（Modern Money Mechanics）？https://upload.wikimedia.org/wikipedia/commons/4/4a/Modern_M... 还有美联储使用的会计系统：FAM：https://www.federalreserve.gov/aboutthefed/financial-account...
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...
……纸币。从印制纸币到直接在账簿上记账、给借款人增加存款，只有一步之遥，借款人反过来又能通过开支票把钱“花”出去，从而“印制”出他们自己的货币。”——《现代货币机制》，芝加哥联邦储备银行 [1] http://en.wikisource.org/wiki/Modern_Money_Mechanics/Introdu...
…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...
……美联储公开的一份文件中包含了对这种变体实现方案变更的描述。在部分准备金制度下，美联储在其出版物《现代货币机制》（Modern Money Mechanics）中详细说明了利率如何限制银行的放贷规模，根据这些利率为任何给定的扩张保留一小部分资产作为准备金。而对于巴塞尔……
…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…