Where does money come from? Printing it yourself, unsurprisingly, is illegal. But in today's digital society, creating money has less and less to do with the printing of notes or minting of coins, reads the article in Deutsche Welle, 28th November 2014.
After 170 years of silence from the House of Commons on the subject of money creation, there was finally a debate in the Main Chamber at the House of Commons on the subject of ‘Money Creation and Society’ on 20th Nov 2014.
Last week we found out that a historic debate 'Money Creation and Society' had been tabled in the Parliament. This will be the first time since 1844 that Parliament will debate money creation. It is taking place on Thursday 20th November - that is only one week away!
It might sound unbelievable, but for the last 170 years, parliament has ignored the question of how money is created. The last significant debate on the creation of money in Parliament happened in 1844! And even though money plays an extraordinarily important role in today’s world, most Members of Parliament still wrongly believe that only the Bank of England has the authority to create money.