Capital
How Banks Create Money Out of Thin Air
When a bank approves your loan it does not move someone else's savings to you. It writes a brand-new deposit on the spot. Here is the mechanism, step by step, why the textbook "money multiplier" is not actually how it works, and why a 0% reserve requirement still does not mean banks can create money without limit.
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Capital
How the Federal Reserve Secretly Controls the Economy
The Federal Reserve doesn't run the economy with a thousand rules. It mostly moves one number, a single short-term interest rate, and that one number quietly reaches your rent, your job, and the price of your groceries. Here is how it works, step by step, with every figure traced to a primary source.
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