Categorized | Global Economy

Money as debt

“When banks extend loans to their customers, they CREATE money by crediting their customers’ accounts.” – Sir Mervyn King

In this animated documentary artist Paul Grignon creates an interesting point of view when it comes to mortgages, debts and our money system. How can we loan so much money that does not even exist? And, how is the digital currency responding on this money-debt situation?

Check out the first part of this trilogy right here:

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