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Misconceptions around Banking - Banking 101 (Part 1 of 6)

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Published on Dec 7, 2012

See the evidence: http://www.positivemoney.org/how-mone...

There's a lot of confusion about how banks work and where money comes from. Very few members of the public really understand it. Economics graduates have a slightly better idea, but many university economics courses still teach a model of banking that hasn't applied to the real world for decades. The worrying thing is that many policy makers and economist still work on this outdated model.

In this video course we'll discover how banks really work, and how money is created.
But first, to clear up any confusion, we need to see what's wrong about the way that most people think banks work.

Public Perception of Banking Number 1: The 'Safe Deposit Box' - 0:42

Public Perception of Banking Number 2: The Middle-Man - 2:58

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Positive Money is a not-for-profit research and campaign group. They work to raise awareness of the connections between our current monetary and banking system and the serious social, economic and ecological problems that face the UK and the world today. In particular they focus on the role of banks in creating the nation's money supply through the accounting process they use when they make loans - an aspect of banking which is poorly understood. Positive Money believe these fundamental flaws are at the root of - or a major contributor to - problems of poverty, excessive debt, growing inequality and environmental degradation. For more information, please visit: http://www.positivemoney.org/

Animation by Henry Edmonds

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