US Money Chapter 4
Chapter 4 explains each of the major kinds of money systems.
Chapter 4 Discussion.
4.27 What system?
4.28 Commodity money
4.29 IOU present-value money: Receipt or representative money
4.30 IOU future-value money: Debt or credit money
4.31 Fiat money: Money by decree
4.32 Fractional reserve money creation
4.33 Making a deal with the devil: Grand bargain: a national central bank and privately created legal tender
4.34 Bank money creation: Anchored by reserves
4.35 Bank money creation: Anchored by bank’s capital
4.36 Bank money creation: No anchor
4.37 Sovereign > Commonwealth money
4.38 Complementary money
4.39 Experiments: Interesting times
Chapter 4 Endnotes