How Money Is Created — and What the Federal Reserve Was Never Designed to Fix

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 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 modern crises keep repeating. We Cover:

Where money really comes from
Why banks don’t lend existing money
How money is created when a loan is approved
Booms, crashes, and financial collapses
What the Federal Reserve is and isn’t
Is The Federal Reserve Fed public or private?
What the Fed was never meant to fix
Quantitative Easing

If you’ve ever felt, confused about how money is created or where it comes from, skeptical of simple “Fed good / Fed bad” narratives, unsure why financial crises keep repeating - this episode is designed to make you smarter. Understand money from first principles. See booms and crashes clearly. Learn how incentives shape outcomes.