For liquidity and to cover bad debt. The latest of Professor Richard Murphy's short explanatory videos explaining money. https://www.taxresearch.org.uk
The way in which banks work is a deep mystery to many people. In this video Professor Richard Murphy aims to demystify it - by explaining just how money is created. https://www.taxresearch.org.uk
It's just an IOU. Watch this short, clear explanation by Professor Richard Murphy to see what money really is and, logically, why a government that has a sovereign currency can't run out of it. https://www.taxresearch.org.uk
"MMT is the democratic solution to funding our civilisation, but it is hated by the banks, monarchs, authoritarians and all those who want to use debt as a tool to maintain their dominance at your expense." https://www.taxresearch.org.uk
