In this video we discuss the mythology of money being created out of thin air.
This is another one of the concepts that might have been vaild in the past but is no longer the case with the money supply under fraction reserve banking. When we look at what goes into expanding the money supply, it is not just money printing. Instead, we actually see economic productivity tied to it.
An important concept is the accounting tied to the money supply and how it all has to balance out.
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I think it all boils down to ignorance and lack of knowledge. The term printing money has been used a lot in the media that it still confuses regular people. The visual of money being printed is so ingrained in people, and the recent pandemic made them think that the government can just print money out of thin air and give to the people. This discussion explained things well, and hopefully, the education system will make more effort to educate people.
Watching through the video reminder of my first lecture on money in school which was about the origin of money, and how money is a tool to buy items and also state the value of an item (which you stated as facilitating trades).
Indeed bringing the issue of lending does brings more money into the flow of money in the country, as well as the inflation also, which makes me wonder to reduce inflation doesn't it mean reducing the lending activities of banks to maintain inflation as other source of getting income requires a productive activity aside fraud?
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