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Well, a check, person A says, is I just write you a note and that essentially instructs the bank to transfer that amount of gold pieces in my name to it being in your name.

And that’s why I say I have gold pieces worth of equity. Why target rates vs. So it’s not like someone could– in an ideal world, someone could not have stolen A’s checkbook and signed for him because hopefully this bank has A’s signature on record and can recognize when A has written a bad check or maybe they’ll even check with A to say if 2200b is a little bit suspicious.

Banking 6: Bank notes and checks

And then we also give him some cash, which are essentially bank notes in our current universe. More on the Fed funds rate. About half of will be gold pieces for B’s account. More on reserve ratios bad sound. And of course, these notes can then switch hands between people as the economy needs, as it functions, and the bank doesn’t have to worry about anything and the gold doesn’t have to be moved around. Hopefully you’re familiar with it by now, but it’s not like there’s actually gold pieces anywhere anymore.


Geithner plan 4 Opens a modal. So one gold piece note– actually let’s just make it– since he’s got five 20s, let’s say he gives him a Cryptographic hash functions Opens a modal. So let me put my money in this bank account as well and I want to do similar type of transaction as A, although maybe they don’t have as much money.

Geithner plan 3 Opens a modal. Let me do the cash back first. And he says, oh, well, I need some cash to just transact every day and to buy supplies or food, et cetera. Foreign exchange and trade. Gold is heavy and you don’t want to carry around a bunch of gold.

Digital signatures Opens a modal. Geithner plan 1 Opens a modal. Person A will fill out– it’ll have A’s name there and it’ll say gold pieces please and then A will sign it and probably date it– 10 I don’t know– and then give it to B and then B can take it back to this bank.

I’ve signed them and I’ve made them hard to forge, just because I don’t want anyone printing these notes and then coming to me and getting my gold pieces.

To log in and use all the features of Khan Academy, please enable JavaScript in your browser. You’re able to do very exact change in this situation.

Lone Star transaction Opens a modal. So it’s kkhan pieces equivalent of notes outstanding, N. And then A’s share has shrunk to just being this part right here.


Bank goes into bankruptcy Opens a modal. These were these notes here that person B got.

World Bank promises $b in climate cash – Daily Pakistan Observer –

Floating exchange resolving trade imbalance Opens a modal. I’m very familiar with that concept as well. Finance and capital markets. In this case, our smallest unit of exchange is a one gold dollar bill or whatever you want to call it.

So now this is B’s new share, which would be plus so it’s gold pieces. Sharif family sentence challenged in LHC …. And maybe I just hand him five 20s for that as khaj ATMs today do.

Federal Reserve balance sheet. Carry trade basics Opens a modal. So let me draw my balance sheet. So B has an apple. Someone else who trusts A says– call them person B– says, if it’s good enough for A, it’s good enough for B.

Bank notes and checks.

World Bank promises $200b in 2021-25 climate cash

There’s this new thing called a bank and I don’t have gold pieces and I think you know what it’s all about. Data on Chinese foreign assets increase in Opens a modal.

The security of transaction block chains Opens a modal. But anyway, that’s an introduction to banks notes and checks.