Banks don’t loan out depositor’s money

Most people think banks take in deposits from people and then lend that money to those who want to borrow from them. Nothing could be further from the truth. Banks take deposits and make loans, but they don’t lend out depositors’ funds. Nothing could be further from the economic truth. #uk #money #economic #politics #bank The Economic Truths Series: 1. An introduction to the economic truths series    • An introduction to the economic truth...   2. You’ve got no money in the bank    • You’ve got no money in the bank   3. Banks don’t loan out depositor’s money    • Banks don’t loan out depositor’s money   ABOUT RICHARD MURPHY Richard Murphy is Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog.

His best known book is ‘The Joy of Tax’. This video was edited by Thomas Murphy. DONATE TO KEEP THIS CHANNEL ADVERT FREE https://ko-fi.com/taxresearch RICHARD MURPHY ON TWITTER Follow Richard on his Twitter: www.twitter.com/RichardJMurphy or on his blog: http://www.taxresearch.org.uk/Blog/ HIT SUBSCRIBE & GET NOTIFICATIONS Subscribe and get notified of new videos released. INTRODUCTION:    • Welcome to my channel - Richard J Mur...   PLAYLISTS: Accountancy:    • Accounting   Economics:    • Economics   Tax:    • Tax   Taxing Wealth Report:    • Taxing Wealth Report 2024   Green New Deal:    • Green New Deal   Money:    • Money   Questions from subscribers:    • Questions   Miscellaneous:    • Miscellaneous