'What is money?'

from aljazeera............

Money is lent into existence by banks 

There's nothing complicated going on behind the scenes. The great secret is that there isn't really much of a secret. Yet the truth about money eludes us for most of the time. 

The economist and ironist JK Galbraith once wrote that "the process by which banks create money is so simple that the mind is repelled. When something so important is involved, a deeper mystery seems only decent". Offered the unadorned truth, stripped of any technocratic flim-flam, we can scarcely believe it. It seems preposterous that money should have such humble origins, as though it is beneath money's dignity that it should begin life at a banker's keystroke"............READ MORE