美联储商业银行和货币供应英文版.pptx

TheFederalReserve,CommercialBanking,andtheSupplyofMoney

RememberthestoryofGoldilocksandthethreebears?“Papabear’sbedwastoohard…..Mamabear’sbedwastoosoft…..butbabybear’sbedwasjustright!

Babybear’sbedandthesupplyofmoney…Withoutenoughmoney,itbeesdifficulttoconductmerce…transactionsslowdownandtheeconomyfallsintorecessionLikeanymodity,excesssupplylowersthevalueofmoney….toomuchmoneycreatesinflation.Weneedtofindabalancebetweenthetwo…

TheConstitutiongrantsthefederalgovernmentthepowertocoinMoney,regulatetheValuethereof...”

TheUSbeganmintingUScoinsshortlyaftertheconstitutionwasratifiedHalfCent(Copper)OneCent(Copper)TwoCents(Copper)ThreeCents(Nickel/Copper)Nickel/HalfDime(Silver/Copper)TwentyCents(Silver)QuarterDollar(Silver)Dime(Silver/Copper

OneDollar(Silver)OneDollar(Gold)2?Dollar(QuarterEagle)ThreeDollarFiveDollar(HalfEagle)TenDollar(Eagle)TwentyDollar(DoubleEagle)HalfDollar(Silver)Productionofgoldcoinsceasedin1934.Silvercoinswereminteduntil1964.

CurrentUSCoins99%Zinc,1%CopperAnnualProduction:6.8M75%Copper,25%NickelAnnualProduction:1.4B75%Copper,25%NickelAnnualProduction:2.5B75%Copper,25%NickelAnnualProduction:2.4B75%Copper,25%NickelAnnualProduction:5.8M88%Copper,6%Zinc,3%Magnesium,3%NickelAnnualProduction:5.3M

Papermoneywasinitiallyissuedbymercialbanksasclaimstotheirdepositsofgoldandsilver(coinsorbars)AssetsLiabilities$500(Gold)$1,000(Loans)$300(Deposits)$1,000(Notes)$200(Equity)Thesupplyofmoneywasdeterminedbytheindividualbank’sprofitmotive-theycreatedloansbyissuingbanknotesBanknoteswereonlyredeemable(forgold/silver)attheissuingbankNorthamptonBank

AssetsLiabilities$1,000(Gold)$10,000(T-Bills)$20,000(USNotes)UnitedStatesnoteswereprinteduntil1963,butwereasmallfractionoftotalmoney1910:onete