Economics of Money and Banking
This full-semester course is a masterpiece! It definitely will change the way how you see this world. Modern monetary system is way more complicated than you might expect. I spent about one year to complete this course, have written 13 posts, and there were so many times that I sat back for minutes to ponder what I have learned.
At the end of the course, Professor Merhling said, and I quote: “Banking system has selective control over liquidity allocation, who gets spending power and who does not get spending power. This is a tremendous power.” Even though I know this is the fact, but I still got stunned.
If believe you know what your money is, and what bank is doing for you. Think twice.
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