How Money Circulates In The Economy

Coach Corey Wayne

Relationships, Society & Culture

4.6 • 532 Ratings

🗓️ 27 January 2022

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

Connor and Corey discuss how money circulates in the economy.

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Transcript

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0:00.0	How money circulates in the economy.
0:06.0	Basically, what happens is the government, as I talked about in economic prosperity for all,
0:13.0	the government borrows money, the Federal Reserve gives the government the cash, and the government gives the federal reserve a bond or a
0:26.5	promise to repay that particular amount of money. And so from that perspective, the government then
0:34.4	takes that money and spends it on whatever items they have in their budget
0:39.1	in the economy, just like the economic prosperity for all documentary shows. And then obviously
0:45.3	you have the money multiplier effect where just the nature of commerce, people borrowing money,
0:53.3	spending money, buying and selling things.
0:56.5	Somebody, one guy puts $100,000 into his bank account.
1:01.0	That bank turns around and creates a $90,000 loan for a piece of real estate.
1:07.0	That $90,000 gets wired to a title company, which that title company's bank account,
1:13.2	or the seller's bank account, or I should say the seller's bank account who gets the cash after the
1:18.9	transaction closes, then that money goes, if you've seen the animation that we have in that
1:23.7	documentary, the money goes and gets deposited into the seller's bank account.
1:29.8	But what's interesting about that, and that's because of the magic of Fractional Reserve Banking,
1:35.0	is that that money, you had originally $100,000 sitting in the bank account,
1:41.8	and now because of Fractional Reserve Banking banking the bank only has to keep 10%
1:46.0	of all their depositor money in the bank and the rest 90% of whatever they take in from their
1:51.8	other depositors can be lent out as interest and so the original bank from the person buying the
2:00.3	property that showed $100,000, now they take $90,000 for the purchase of that property.
2:08.2	They give it to the seller.
2:09.9	The seller takes that $100,000 or that $90,000 deposits it in their bank.
	...

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