货币信用的形成机制（The formation mechanism of monetary credit）.docVIP

货币信用的形成机制（The formation mechanism of monetary credit） In contemporary society, a large number of monetary credit with the central bank as the source and commercial bank loans as the basic way is an economic phenomenon that many scholars and the public pay close attention to. What is the specific economic relationship reflected by the credit of currency? If only on the surface, the bank lending, money supply seems to be quite arbitrary. However, the currency without intrinsic value is a specific form of credit, just like other types of credit, all credit must be finally implemented to the specific creditor and debtor. We begin with the formation of contemporary money credit, and study the essence of monetary credit. First, paper currency (currency M0 in circulation) In order to understand the basic characteristics of paper money credit, we can put aside the M0 stock already formed. The question is how the currency in the circulation is increased and the specific meaning of the paper money is increased. Once this point is clarified, the stock of money in circulation at any given moment is actually explained. In the current banking system with the central bank as the core, the increase of M0 is realized through the central bank loans to commercial banks. The central bank for the purpose of lending, not by commercial banks at the central bank reserve deposits increased or excess reserve deposits increased as the premise of the central bank can also use commercial banks in the central bank to increase lending deposit. When the central bank issues a check to the commercial bank directly, it is the exclusive authority of the central bank, which means that all the people have already given the central bank credit in advance. Suppose that the central bank increased loans by 10 billion yuan, which is the assets of the central bank, and in the accounts of the commercial banks, the record is 10 billion yuan in the central banks deposits. Commercial banks need the 10 billion yua