Latest / The Daniel Stih Podcast
How Money Is Created & The Federal Reserve - Steve Keen
Most people think banks lend money.
They don't. They create it.
I sit down with economist Steve Keen to explain how money, banking, and the Federal Reserve actually work. Our conversation tackles one of the biggest sources of confusion in economics:
where money comes from, what the Federal Reserve was designed to do, and why financial crises keep repeating—even when the tools change.
This episode is about mechanics, incentives, and systems.
We cover:
Where money really comes from
Why banks don't lend existing money
How money is created when a loan is approved
How this explains booms, crashes…
The skinny
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