00:00
banks are allowed to create money
00:02
through a system called fractional
00:03
reserve banking
00:04
whenever you deposit money the bank is
00:07
legally required to keep a certain
00:09
percentage of it somewhere safe but can
00:11
lend everything else here's an example
00:14
based on a ten percent reserve
00:15
requirement John goes to his bank and
00:17
deposits $1,000 john's bank keeps $100
00:21
and lends the remaining $900 to mine
00:23
there is now $1,900 in the financial
00:26
system
00:27
John's one thousand dollar deposit and
00:29
Mike's nine hundred dollar loan next
00:32
Mike uses the time hundred dollars to
00:34
buy a laptop from counter then Karen
00:36
depositor nine hundred dollars at
00:38
another bank the bank keeps 10% and
00:41
lends the remaining eight hundred and
00:42
ten dollars to George there is now two
00:45
thousand seven hundred and ten dollars
00:46
in the system John's one thousand dollar
00:49
deposit Karen's nine hundred dollar
00:51
deposit and George's eight hundred and
00:53
ten dollar loan this goes on and on
00:55
until John's initial $1,000
00:58
has turned into approximately ten
00:59
thousand dollars believe it or not
01:02
commercial banks actually create more
01:04
money than central banks
Fractional Reserve Banking Explained in One Minute
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