Will Roberds is an economist emeritus of the research department of the Federal Reserve Bank of Atlanta. Steve Quinn is a professor of economics at Texas Christian University. In Will and Steve's first appearance on the show they discuss the historical significance of the Bank of Amsterdam, The use of ledger at the Bank of Amsterdam, It's use of repo and open market operations, it's connection to central banking today, and much more. Check out the transcript for this week's episode, now with links. Recorded on September 23rd, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps 00:00:00 - Intro 00:00:53 - Bank of Amsterdam 00:10:31 - Bank of Amsterdam's Ledger 00:32:09 - Motivations 00:36:49 - Seven Years' War 00:40:53 - The Repo Versus the Open Market 00:56:30 - Outro

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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