Ютуб канал "Money & Macro" | Продвижение Ютуб канала

Turkey Needs To Save The Lira, Here’s How (ft. @Into Europe)

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Check out Into Europe's channel here: https://www.youtube.com/intoeurope

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△ I have a private Discord server for Senior and Chief economist Patrons / members.
Otherwise I sometimes hang out in two Discord servers:
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△ Capitalists server: https://discord.gg/8MeNJ7gfSR

SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog: https://www.moneymacro.rocks/blog

Timestamps:
0:00 - introduction
4:17 - Why is it Broken
13:23 - Fixing The Lira
16:44 - Political Reality
17:43 - Final Thoughts

Attribution:
Icons: Roundicons

Neon sign from: https://www.neonlights.be/discount/M&M15
Narrated and produced by Dr. Joeri Schasfoort (University of Groningen)
Studio designed by Alex Moore Via http://www.dmsquaredagency.comПоказать больше

Turkey Needs To Save The Lira, Here’s How (ft. @Into Europe)

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Is Afghanistan's Resource Rich Economy Stuck in Poverty?

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Who is Actually Winning The Economic War?

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Russia's Economy: Rise & Fall of a Superpower

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How The West Broke Russia's Economy

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Inflation: Don't Blame Central Banks

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What is Actually Causing Inflation? A Deep Dive (ft. @Unlearning Economics)

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How Russia's Economy Shields Itself From Western Sanctions

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The Invention of Central Banking | History of Money

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Central banks are the supposed champions of both price stability and financial stability....

But, have prices and finance really been very stable? or was the world of money actually more stable before central banking was invented?

BIG SHOUTOUT to Professor Dirk Bezemer, with whom I collaborated to create the script for this video as well as to Alex Moore Via http://www.dmsquaredagency.com who did the editing & graphics.

LIKE CHATTING ECON WITH ME
△ Follow me on Twitter: https://twitter.com/joerischasfoort
△ Follow me on LinkedIn: https://www.linkedin.com/in/joeri-schasfoort/
△ I have a private Discord server for Senior and Chief economist Patrons / members.
Otherwise I hang out in two Discord servers:
△ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf
△ Capitalists server: https://discord.gg/8MeNJ7gfSR

5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo

SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog: https://www.moneymacro.rocks/2021-10-01-central-bank-origin/

Timestamps:
0:00 - introduction
0:35 - South European Banks
4:08 - Bank of Amsterdam
9:38 - Channel plug
10:03 - Sveriges Riksbank
13:18 - Bank of England

Attribution:
-

Narrated and produced by Dr. Joeri Schasfoort (University of Groningen)Показать больше

Stagflation Coming? MMT Good? QE Bad? Best Econ Books? | Q&A Summary

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Missed the Q&A or did I miss your question? Ask me anything in the comments below and I will try to answer.

Links to Some of the Books Mentioned
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo

Also mentioned: Economics Rules by Dani Rodrik

Timestamps:
0:00 welcome...
0:10 my job
0:44 why YouTube?
3:55 inspiring economists
5:27 productive debt
10:38 Richard Werner
12:31 response videos
15:56 MMT
17:27 Fiat devaluation
19:15 Sri-Lanka & China
21:24 Agent-Based Simulations
22:30 Crypto
23:54 DeFi
25:29 Energy Price Surge
27:07 stagflation
28:58 China video
29:31 China Window Guidance
31:38 CBDCs
33:07 Philips Curve
34:33 Argentinian Peso
36:22 Pandemic Recovery
37:41 UBI
40:00 North Korean Growth
40:58 Money Reduction
41:44 UE Colab
42:12 Turkish Economy
43:41 Best Pension System
45:22 Rethinking Economics
46:48 Econ Breakthrough
49:40 EU Target II
52:26 Econ video Games
53:53 Rational Expectations
56:41 Pandora Papers
57:59 QE Bubbles
59:35 Schools of Thought
1:03:35 Cat Break
1:03:43 My Ideology
1:05:03 Saudi Arabia
1:06:01 Books Recommendations
1:12:55 Game Economies
1:14:09 Biggest Worries
1:17:20 Greek Debt
1:18:16 Fintech
1:19:27 South Africa's Future
1:21:38 Inequality Bad?
1:22:28 Global Inequality Solvable?
1:24:33 Future of the Channel

Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://www.linkedin.com/in/joeri-schasfoortПоказать больше

The Economics of China's Evergrande Crisis

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Europe's Forgotten Monetary Revolution | History of Money

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Is money a commodity or credit. I think both. But the commodity story is told everywhere whereas the credit story is not well known. This video therefore fills that gap by explaining the re-emergence of credit in Europe.

BIG SHOUTOUT to Professor Dirk Bezemer, with whom I collaborated to create the script for this video.

WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
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△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y

LIKE CHATTING ECON WITH ME
△ Follow me on Twitter: https://twitter.com/joerischasfoort
△ I have a private Discord server for Senior and Chief economist Patrons.
Otherwise I hang out in two Discord servers:
△ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf
△ Capitalists server: https://discord.gg/8MeNJ7gfSR

5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo

SOURCES:
I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog.

https://www.moneymacro.rocks/2021-08-27-medieval-europe/

Timestamps:
0:00 - introduction & theories
2:55 - rise of the money changers
5:38 - rise of bill-dealers
7:46 - rise of bankers & conclusion

Attribution:
- Thought-bubble: created by Harryarts - http://www.freepik.com
- Business vector created by rawpixel.com - http://www.freepik.com

Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://www.linkedin.com/in/joeri-schasfoortПоказать больше

Hyperinflation Already Here? REALLY!? | Economist Responds

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The Best Middle Class Experience? (ft. @Econoboi)

Netherlands vs. USA comparison of wages, cost-of-living, social safety [...]

Dutch Economy Most Unequal? REALLY!? | Dutch Economist Responds

As a Dutch economist who works for a South African University, I was [...]

Lebanon's Economy: how to Fix its Currency Crisis

The economy of Lebanon is in a deep crisis. This video explores the [...]

The Economy of Japan: how a Superpower FELL from Grace in Four Decades

In 1989, the world was simultaneously fearful and in awe of the rise [...]

In 1989, the world was simultaneously fearful and in awe of the rise of the magnificent Japanese economy. So…. What the hell happened?

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△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
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△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y

△ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA
△ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS

5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo

Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/

Script and Sources:
Check out the sources (a.o. Richard Werner's books, Bank for International Settlement speeches, and Japanese newspapers) that I used for this video in the the script that you can find on my blog:

https://www.moneymacro.rocks/2021-03-22-economy-japan/

Timestamps:
0:00 - introduction
1:20 - 1980s
8:03 - 1990s
14:46 - 2000s
21:34 - 2010s
29:19 - the future & conclusion

Attribution:

clips trump protest: CC John Doyle
clips from Migrant rights protests UK CC Steve Eason
clips from Colorado immigration protests CC Unicorn Riot
clip Japanese politicians CC douga bubble
clip Disneyland opening CC Shatner Method
picture Orban & Putin CC Kremlin.ru
picture Helicopter money CC TGCP

Songs:

Ishikari Lore by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100192
Artist: http://incompetech.com/

Further description:

While Japans economic might is still widely respected, it used to be the rising superstar of Asia. How did the economy of this Asian archipelago, which came so close to overtaking America as the number one economic superpower, end in deflation and stagnation?

I mean, by now it’s gotten so bad that the Bank of Japan, in a desperate attempt to turn this situation around, has bought up to 70% of government debt and has even become the biggest shareholder of corporate Japan.

This mini-documentary covers the period from 1979 till 2021 and spans Japan's asset bubble decade (featuring window guidance and the housing + stock bubble) as well as the three following decades that were characterized by debt-deflation and a banking crisis, the inflation expectations trap and population decline, respectively. It also has a critical look at Abenomics (from prime minister Shinzo Abe) and contains recommendations for the future of the Japanese economy.Показать больше

Denmark's Economy: is the Krone in Trouble?

The Krone is issued by the central bank of Denmark (Danmarks [...]

How this Algorithm Predicted the Bitcoin 2021 Bubble

Was Bitcoin a bubble in the winter of 2021? I decided to ask a famous [...]

The Balance of Payments Explained

To deal with international transactions and financial flows, [...]

To deal with international transactions and financial flows, economists use the Balance of Payments framework. In this video, I'll give you an introduction to that framework and show you what the two main variables are that I study: current account balances, and gross capital flows.

WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro
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△ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS

5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo

To understand the effects of globalization, using the standard measurement, gross domestic product, or GDP for short, is not enough. The balance of payments framework complements GDP and is essential for any serious macro-economist. It consists of a current account (which tracks transactions that result from trade, services, wages, interest, remittances etc.) and a capital & financial account (which mostly track investment transactions such as FDI and portfolio flows).

Economists typically first look at the net position on the current account to see if there are large trade imbalances and money flows needed to finance them. After that, they add all incoming and outgoing capital flows to check if if local asset bubbles might be financed largely by offshore financial centers.

Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/blog/

Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/Показать больше

How Exchange Rates Are Determined

The prices of currencies are one of the most tricky subjects in [...]

Why Financial Globalization is Dangerous

Want to help me do more research? Consider supporting via: [...]

Want to help me do more research? Consider supporting via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro

△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y

5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo

In these last decades, finance has become truly global. This has a lot of benefits. But, it is also important to understand the four drawbacks of international capital flows.

This video explores the following questions: have countries been right to open the door to international investors? or was it a mistake? And, if it was a mistake, what can they do to limit harmful effects of financial globalization?

This video has been inspired by work from economists at the bank for international settlements such as Claudio Borio as well as the work on the global financial cycle by Helene Rey.

The global financial cycle describes how asset prices worldwide move in tandem along with gross capital flows and monetary policy easing by the U.S. Federal Reserve. Central banks of small other countries will have no other option then to follow the U.S. central bank with their interest rates. This is how the classical trilemma turns into a dilemma.

Want to know more, I'm also using this video in a course that I am teaching at the University of Groningen called International Financial Markets that I teach with prof. Dirk Bezemer.

Also, check out the script for this video here: https://www.moneymacro.rocks/2021-02-04-global-financial-cycle/

Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/Показать больше

Why Gamestop CRUSHED the Efficient Market Hypothesis

The gamestop stock explosion has mostly been told as a story of small [...]

Why Private Bank Money Creation is Dangerous

The financial cycle refers to a co-movement between asset prices and [...]

The financial cycle refers to a co-movement between asset prices and bank lending. While asset bubbles can definitely emerge themselves (just look at the recent Gamestop and Bitcoin stories), thanks to positive feedback loops that are inherent to these markets, when the banks join in … you better hide because that’s when they can get truly dangerous.

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△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS

5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo

There are two elements to the financial cycle story:

1) The first is that of rising asset prices, primarily houses, but also stocks.
2) And the second is that of rising debt to GDP. Or increased bank lending.

The biggest and most recent episode of a financial cycle happened in the United States and it started … right around 1996. In this year both the level of debt compared to the size of the economy (also known as credit to GDP) and inflation adjusted house prices started to pick up. And up and up they went. And as they went up… the people were happy, the sky seemed the limit. If you want to get rich, just buy a house.

And the banks? They were more than willing to lend. After all, if a borrower could not repay the loan, he or she could sell the house. Since the price could only go up, the house sale would always yield enough money to repay the loan….

Now at the same time, it so happened that the economy was doing really well. Even a big stock market crash in 2001 could not stop the party. After that stock prices also started to pick up until….. in 2006 house prices started dropping. Then in 2007 stock prices followed, and in 2008 everything came crashing down and the world faced its biggest banking crisis in a hundred years.

Currently banks are far better regulated and are less likely to have pumped up asset prices such as those of stocks like Tesla, and Nvidia, but also about crypto assets like Bitcoin and Ethereum.

This video has been inspired by work from economists at the Bank for International Settlements such as Claudio Borio. I'm also using it in a course that I am teaching at the University of Groningen called International Financial Markets that I teach with prof. Dirk Bezemer.

Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/2021-01-27-domestic-financial-cycle/

Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/Показать больше

How Janet Yellen Rose to The Top

Treasury secretary of the United States of America, the most powerful [...]

Treasury secretary of the United States of America, the most powerful job in finance. And the next person to do it will be Janet Yellen. So, it is important to understand what she is all about.

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5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo

Ascending to the financial throne after Steve Mnuchin, Yellen will be responsible for U.S. economic policy, tax policy, fiscal policy, as well as managing government debt. Obviously, this is a key position for those of you living in the United States. But, it’s also key for those outside of it because of the massive role the Dollar and U.S. economy play in the global economy. After all, stimulus in the U.S. often leads to higher exports in the rest of the world.

So, with Janet Yellen being confirmed by the senate shortly (her confirmation hearing is on the 19th of January), it makes sense that you wonder who is Janet Yellen? What are her qualifications? And, most importantly, what can we expect from her tenure as Treasury secretary?

Yellen has a super impressive CV. She has a PhD from Yale, where she had some Nobel winning supervisors such as James Tobin and Joseph Stiglitz. Next, she worked at elite universities such as Harvard, the London School of Economics (LSE) and University of California Berkeley. Also, she served on several government advisory boards and was local chairwoman at the San Francisco Fed, vice chairwoman and later chairwoman at the Fed. Finally, she has published (partly co-authored with her Nobel winning husband George Akerlof) in elite journals such as the American Economic Review, Quarterly Journal of Economics, and the Journal of Monetary Economics.

She is a Keynesian economist with dovish views on the monetary policy and a tough on big business streak. But, will she be a dovish Treasury secretary as well?

Check out the full script at https://www.moneymacro.rocks/2021-01-19-yellen-treasury-secretary/

Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-sch...

Attribution:

- Brown university from Official YouTube channel Creative Common license
- Brookings institute from: Millennial Monitor YouTube channel Creative Common licenseПоказать больше

How Quantitative Easing Differs from Money Printing | QE Explained

No! Quantitative Easing (QE) is not the same as money printing. This [...]

No! Quantitative Easing (QE) is not the same as money printing. This video explains exactly what the meaning of quantitative easing is and what the differences are with money printing.

WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS?
△ Consider supporting me on: https://www.patreon.com/moneymacro
△ Or for one-time donations: https://www.paypal.com/donate?hosted_button_id=9JRG5URQ9KEHS

5 BOOKS THAT INSPIRED THIS CHANNEL
The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV
Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY
Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ
The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo

△ Want to know more about central banking? Check out the playlist: https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE
△ Check out how I use these principles to study country economies: https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA

Want to know more? Watch the video, or read it all in the script here: https://www.moneymacro.rocks/2021-01-13-qe-explained/

Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/

Timestamps:
0:00 - introduction
1:01 - what QE is
1:48 - the two main differences
3:48 - why central bankers use QE

Extended description:

In 2021, we can safely say that QE has become a staple in the monetary policy toolkit of central banks such as the United States Federal Reserve (fed), European Central Bank (ECB), Bank of England, and the Bank of Japan. This policy is also known as large scale asset purchases (and monetary easing). This makes sense because this is basically what happens. However, since the central bank is doing it, new bank reserves are created to buy these bonds. The central bank thus expands it balance sheet and, since reserves are money, it increases the money supply. However, with money printing, the central bank creates notes & coins, not reserves. This is important because reserves can only be used by banks. Also, the central bank takes government (and sometimes corporate) bonds out of circulation with QE. Since bonds are also used by financial institutions to pay each other (in repo markets), it could be that effectively the money supply doesn't change much.Показать больше

Silver & Credit Money in Ancient Athens | History of Money

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Why Cyberpunk's Night City Uses Eurodollars

Night City, a free city in California, uses Eurodollars rather than [...]

The Monetary Financial System Visually Explained

Visualization of the monetary financial system, which is built on [...]

Visualization of the monetary financial system, which is built on central bank money, thrives on private bank money, and is topped of with a large layer of other financial instruments.

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This video builds on the academic theory which is known as the hierarchy of money. The main point of the hierarchy of money is that some forms of money are better than others. It is a theory that is very popular in post-Keynesian economics. It is also compatible with Modern Monetary Theory (MMT) since it includes money creation by both the private sector and the state.

When the economy is doing well, this hierarchy can be difficult to see. However, when there is a crisis, it will become immediately obvious that your hedge fund investments are better sold in exchange for private bank money. And when the going really gets tough, you might even be better off to run to your local bank and withdraw all of your money to walk home with a bag of cold hard cash (bank run).

I like to visualize the hierarchy of money as a circle where there is a monetary core of central bank money (including M1, M2, and M3 money, as well as reserves, that can either be created through money printing, monetary finance, or quantitative easing), a large monetary periphery of money created by private banks, and an even larger financial crust that contains all other financial instruments (such as those issued by shadow banks and money market mutual funds).

Using this visualization has helped me tremendously over the years to understand discussions in monetary and financial economics as well as international monetary systems. I hope it will do the same for you.

Want to read the script for this video? Check it out in the form of a blog post here: https://www.moneymacro.rocks/2020-12-09-money-system-visualized/

Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town)
https://twitter.com/joerischasfoort
https://www.linkedin.com/in/joeri-schasfoort/

Attribution:
- Photo of Hyman Minsky by Pontificador via Wikimedia CommonsПоказать больше