"Modern Money Mechanics" was a booklet published and distributed by the Federal Reserve Bank of Chicago, originally written by Dorothy M. Nichols in May 1961. Described as a "workbook on bank reserves and deposit expansion", the text offers a detailed description of the basic process of money creation in a fractional reserve banking system.
This booklet now out of print opened my eyes at a very young age and had a profound impact and influence on my life.
This was the spark that lit my passion to learn all I could about about a topic that is absolutely critical to the quality of life for everyone. Money and the "Banking Equation." To be a successful entrepreneur financial literacy
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