Economics Learned: The Magic Checkbook

Sometimes, class, a banker masquerades as an economist and sometimes as a magician. And, like now, he can sometimes roll himself up into all three. Voila! The magic check book. Today’s lesson.

Today, money is rarely printed, but rather comes out of a very special checking account at the central bank (Federal Reserve, ECB, BOJ, Bank of England etc.) that nobody puts any money into.

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Written by
With his passion for economics, Bill Tatro has been entertaining audiences on the radio and in seminars for over 30 years. Bill’s dynamic and no nonsense style has made him one of his stations’ most popular show hosts.