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a booklet published by the Chicago Federal Reserve in 1961 and revised in 1992 titled "Modern Money Mechanics: A Workbook on Bank Reserves and Deposit Expansion"

Web of Debt
by Ellen Hodgson Brown, 2007, paperback, p26
keyword(s)
banks
Federal Reserve
money
debt
quotation
Banks can build up deposits by increasing loans and investments so long as they keep enough currency on hand to redeem whatever amounts the holders of deposits want to convert into currency. This unique attribute of the banking business was discovered many centuries ago.