I am searching for a good, authoritative resource (ideally an article, or a part of a book) explaining in detail the workings of the Federal Reserve in the banking system - how it sets the interest rates and otherwise regulates and influences the banks and in the end the ‘money supply’, in its various definitions, where the money flows, etc. Here is a good resource on how Fed interacts with the state debt - I’m looking for something in a similar level of detail on the other side of the equation.
Yeah, something like that! I was aware of Rothbard’s Case, but didn’t know the other one, lots of juicy detail. Any chance of a smaller document or article on the matter being around? Time preference (i.e. laziness) is hard to overcome.
I don’t know how brief or introductory you want the information. If just starting out you can go to Chris Martenson’s site and do his crash course. Do chapters 6 to 10. You should be able to do it in one night.
Very interesting I must say. Doesn’t cover what I want, and there’s some debatable definitions and concepts he uses, but his heart seems to be in the right place. In Chapter 6 is mentioned a pretty cool number: 3,800 past examples of paper currencies that no longer exist. Does anyone know where this comes from?
In the end, I’ll probably take bearing01’s recommendation. Would love to have something shorter, but Rothbard’s Case should do it. Thanks!
These documents are way way out of date. The way that banking works is changing all the time. I don’t know of any place that maintains an up to date explanation of how it all works. If you find one please tell me about it.
To get an insight in to just how out of date and or just plain wrong both these recommended articles are, I would read all the articles on this blog:
You do have a point, Mister. The documents are pretty useful in understanding the basics and the past, but a more current document about the present would be useful. The search continues!