PE31: Decoding Base Money - Gold in USA (XI)

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This is the thirty-first installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.

Contents

00:00 Intro

03:10 Monetary base

07:50 Gold on Fed's balance sheet (Market value)

16:30 Gold on Fed's balance sheet (Native ounces)

24:20 Gold 'reserved' at market price

33:36 Gold 'reserved' at statutory price

37:13 Central banking, free banking, gold, no gold

Here is our second video covering outside money in the United States, also known as central bank money, or reserve money, or base money, or the monetary base. In this one we are comparing base money (a liability for the Fed), with it's historical gold reserves (an asset for the Fed). How important is the idea of a gold 'reserve?'

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