Chaves para entender bancos e moeda

Entenda como funciona o moderne sistema monetário-bancário tomando Gary North e Murray Rothbard como guias:
"The Mystery of Banking is a unique academic treatise on money and banking, a book that combines erudition, clarity of expression, economic theory, monetary theory, economic history, and an appropriate dose of conspiracy theory. Anyone who attempts to explain the mystery of banking – a deliberately contrived mystery in many ways – apart from all of these aspects has not done justice to the topic. But, then again, this is an area in which justice has always been regarded as a liability. The moral account of central banking has been overdrawn since 1694: "insufficient funds." ---
While Dr. Rothbard made the moral case against fractional-reserve banking in his wonderful little book What Has Government Done to Our Money? (1964), as far as I am aware The Mystery of Banking was the first time that this moral insight was applied in a textbook on money and banking. --

Ultimately, as Ludwig von Mises showed, this process of central-bank credit 

expansion ends in one of two ways:

1. the crack-up boom – the destruction of both monetary order and economic productivity in a wave of mass inflation – or
2. a deflationary contraction in which men, businesses, and banks go bankrupt when the expected increase of fiat money does not occur.

What the textbooks do not explain or even admit is this: the expansion of fiat money through the fractional-reserve banking system launches the boom-bust business cycle – the process explained so well in chapter 20 of Mises's classic treatise, Human Action (1949). Dr. Rothbard applied Mises's theoretical insight to American economic history in his own classic but neglected monograph America's Great Depression (1963).  


In The Mystery of Banking, he explains this process by employing traditional analytical categories and terminology.
There have been a few good books on the historical background of the Federal Reserve System. Elgin Groseclose's book, Fifty Years of Managed Money (1966), comes to mind. There have been a few good books on the moral foundations of specie-based money and the immorality of inflation. Groseclose's Money and Man (1961), an extension of Money: The Human Conflict (1935), comes to mind. --


The historian Paul Johnson rediscovered America's Great Depression and relied on it in his account of the origins of the Great Depression. See his widely acclaimed book, Modern Times (New York: Harper & Row, 1983), pp. 233–37. He was the first prominent historian to accept Rothbard's thesis.
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