The Money View: In Gold They Trust

The video tutorial explains the difference between the outside money illusion and the inside money reality. It discusses how expenditures can be made through borrowing, selling assets, or drawing down money balances. The tutorial also covers bilateral transactions and the role of intermediaries like the private banking system. Finally, it addresses the impact of financial crises on these systems, highlighting the role of the public system in stepping in when the private system fails.

In what ways can an individual make an expenditure as described in the text?

What happens to the financial system during a financial crisis according to the text?