Banks Create Money Out of Thin Air — Here's How | Richard J Murphy

> "Money is debt. Banks create money, and that includes the Bank of England doing so for the government." - Richard J. Murphy (Defining the fundamental nature of currency) [[00:00:19]](https://www.youtube.com/watch?v=vPKLgUDgnH0&t=0h0m19s) > "Money is not an object; money is always a promise to pay. That's all it is." - Richard J. Murphy (On the immateriality of money)…