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BanksCurrencies & FXCurrency
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Dollar, Money & Currency
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Finance
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Money Creation
Podcast

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)…

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UJ
Mar 2, 2026