Bob explains the mechanics of modern banking and how liabilities and assets on bank balance sheets differ from popular assumptions. He shows how interest rates and central bank policy shape lending and deposit behavior, and why private companies move money differently than commercial banks. Bob also critiques the perspectives of Richard Werner, Steve Keen, and George Selgin, showing where their explanations align or fall short.

• Bob's Infineo Article, "A Biz vs. a Bank vs. the Fed": Mises.org/HAP513a
• The Charts Used in this Episode: Mises.org/HAP513b

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