We all use money and most of us use banks. Despite this, the actual working of the banking system is a bit of a mystery to most (especially fractional reserve banking). This older tutorial (bad handwriting and resolution) starts from a basic society looking to do more than barter and incrementally builds to a modern society with fraction reserve banking. Through this process, you will hopefully gain a deep understanding of how money and banking works in our modern world.

You know that the Federal Reserve (or central banks in general) controls the money supply and short-term interest rates. But how exactly do they do this. Even more, how is "quantitative easing" different than regular open market operations. This tutorial explains it all in the context of the Federal Reserves attempts to stave off deflation during the 2008-2012 recession.

In 2008, the entire financial system was at a potential breaking point because of a popping housing bubble. This tutorial breaks down how the government attempted to address this (historical note: Sal made these videos as the crisis was unfolding).

The poop really started to hit the fan in the fall of 2008. When the new administration took office in early 2009, the poop was still there. This is tutorial explains an attempt--probably not a well thought out one--to clean the poop and slow the fan. Videos on the Geithner Plan to solve the continuing banking crisis in early 2009.

This tutorial walks through how China's undervaluing of its currency impacts trade and prices (which also fuels cheap borrowing for the U.S.).

This tutorial contains short videos that explain how China and the United States are intertwined through currency and debt. This is key for understanding the current global macro picture.

The Greek government incurred debt beyond its means but didn't have control over its own currency to inflate away its obligations. From austerity, to a bailout, to leaving the Eurozone, none of the options looked great. In this tutorial, Sal walks through the situation Greece was in and its options (these videos were made as the crisis was unfolding).