On today's edition of "Boiler Room," Alfonso Peccatiello is joined by Frances Coppola to explain today's banking system and debunk the theory that money is "printed". Frances discusses the creation of money in the modern economy and how the money supply expands and contracts. We then explore the bank lending process, a bank's equity and what almost everyone gets wrong about bank reserves. Does government fiscal spending increase the money supply or just recycle it? Are bank reserves lent to other borrowers? What components comprise the total money in circulation? Tune in to find out! -- Follow Frances: https://twitter.com/FrancesCoppola4 Follow Alfonso: https://twitter.com/MacroAlf Follow Blockworks: https://twitter.com/Blockworks_ Subscribe To The Macro Compass: https://themacrocompass.substack.com/ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Referenced In The Show:  The Case For People's Quantitative Easing https://www.amazon.com/Case-Peoples-Quantitative-Easing/dp/1509531300 -- Timestamps: 00:00 Introduction 00:27 Who Prints Money? 04:16 How Banks Make Loans 06:07 What Everyone Gets Wrong About Bank Reserves 19:46 Government Fiscal Spending, It's Circular 24:00 Why Is This So Confusing? -- Disclaimer: Nothing discussed on Boiler Room should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.