Banking 101

I have been impatiently waiting for the folks at PositiveMoney to finish a short series of videos on banking in the United Kingdom called Banking 101. There are probably more than a few differences between banking in the United States and in the United Kingdom, but the most significant difference is whose faces are printed on the notes.

Most of the western nations have money systems that bring money into existence in the same manner as this video series explains. I don’t know of any short series of videos that explains money and banking  in the United States as concisely as this series does using the banking system of the United Kingdom as the example.

I wanted to make my own videos on the subject, but sadly discovered that I lack the talent to do so. Please take a few minutes and watch these videos to learn about banking and money creation.

• Misconceptions around banking (Part 1 of 6) (5:03)
• What’s wrong with the money multiplier? (Part 2 of 6) (8:23)
• How money is really created? (Part 3 of 6) (20:05)
• How much money can banks create? (Part 4 of 6) (13:57)
• Do banks create money or just credit? (Part 5 of 6) (5:23)
• How money gets destroyed (Part 6 of 6) (3:19)