What is money? Where does our money come from?

When you look though history there has been a constant tug of war battle between banks and the people. I think we might be living through another transition of money creation power back to the people. I hope so!

How do you envision money creation by the people?

I dont agree. For the public to have money it has to first be borrowed by somone before it can circulate around the economy (I want to point out im not talking about private debt).
We are all in debt which we service through our taxes.

I would also say that debt growth is assured (as i currently understand it). As money is loaned into existance + interest. Further loans will be always be needed to service the interest.

I also see in a way that economics and monetary theory / policy are two seperate subjects. Monetary theory provides the foundation for economics imo. But im no economist .

Its good to talk about this stuff, i see it as the subject of our time.

Through the Bank of England under control of the monetary policy commitee. It has to be so that there is no conflict of interest, it would have to transparent and accountable to the public.
I think most people currently think that BOE issues 'our' money anyway lol . I mean, it cant do any worse than the current arrangement.

Let's address this first. I am not sure I understand. As a borrower I would only take a loan out if I know that the return on the project I am intending to finance is sufficient to cover the interest costs. So I really don't see how you come up with this self-perpetuating debt. I don't need more loans to service the interest. If I do, I go bankrupt.

Picture it starting from point zero,no money in the system then go from there.if i understand you your talking about taking on a personal debt (which you would be earning money from the existing supply to pay the interest to the bank).

In fact watch the first video i posted as it does explain it. Im not sure i could do a better job.

OKI-DOKI, lemme go watch the ole video...

I am afraid the video is silly... Are they seriously advocating that the Bank of England makes decisions that determine whether and to whom to lend money? That's absurd. As I said before, isn't it the whole point of capitalist society that capital allocation decsisions are supposed to be made by the free private market, which, in this case, is a bunch of banks? A private bank lends money to individuals and firms. If this bank makes poor decisions (i.e. lends money to individuals/firms who are already overly indebted), this bank, as a private institution, goes bankrupt. In theory, the private credit system works and it doesn't matter what you're lending and where the money comes from.

So I'm afraid it's a rather silly video that betrays a glaring lack of understanding of how the system actually operates, in spite of them, supposedly, going through all these BoE docs.