Everything You Need to Know About the Gold Standard

Not to be confused with the Midas touch, the gold standard is a basis for gauging the value of currency, and it played a critical role in the establishment of the U.S. dollar. The nation steadily veered further and further from a true gold standard, and today the U.S. dollar is truly fiat in nature — not backed by any intrinsically valuable commodity. Read more

Everything You Need to Know About Federal Reserve Banks

When it comes to the federal reserve, there’s levels to understand. You’ve got the federal reserve, located in Washington, D.C, home to the chairman of the Fed and the members of the Board of Governors. But then you’ve also got several regional branches of the federal reserve — twelve, to be exact — that play their own roles within the national banking infrastructure. Read more

Everything You Need to Know About Fractional-Reserve Banking

What’s that you say? You don’t know the first thing about what fractional-reserve banking is or how it works? You’re not alone. We recently conducted a study of 1,000 US consumers and nearly 26% of respondents believed that banks were required to hold 100% of customer deposits in reserves. Read more

Everything You Need to Know About the Federal Reserve

Most everybody has heard of the Federal Reserve, but you’re not alone if that’s about as far as your knowledge of the Fed extends. We recently conducted a study of 1,000 US consumers and when asked the question, do you know what the Federal Reserve does? Nearly 50% of respondents answered either no (34%) and I don’t know (15%). Read more