The MMT Podcast with Patricia Pino & Christian Reilly cover image

#126 Dirk Ehnts: How Banks Create Money

The MMT Podcast with Patricia Pino & Christian Reilly

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Commercial Bank Money

Commercial banks are our interface with the monetary system. It's possible to get the mistaken impression that they're in charge of the creation of our money. But truly, because of that money hierarchy, the government's in the driving seat. And getting this wrong lets polit ons off the hook for the state of the national trousers - which haven't been upgraded since margaret thatcher bought them off milton freedman in 19 79.

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