Comments by "Scott Franco" (@scottfranco1962) on "Money’s Mostly Digital, So Why Is Moving It So Hard?" video.

  1. I don't think it needs to be that complex to explain how banks can create money. Everytime you or the bank writes a check its making a promise to turn it into cash, and the presumption is that everyone won't try to take the money out at once. To me this makes more sense, because the key is that you are going to take that check and put it into another bank, not actually cash it out (or expect gold from it). Thus money becomes an accounting problem between the banks, and banks honoring each others checks mean they effectively print their own money.
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  2. So if it is this easy to explain money, why don't the politicians get it?
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