Politicians tell us the UK is “borrowing too much” and faces a “debt crisis.” That’s wrong. The government creates the pounds it spends, and what’s called “borrowing” is really just it accepting deposits — or savings — from the public and financial markets. It’s time to stop the scare stories and understand the truth.
0:00 – Intro: Can the UK Borrow?
0:35 – The “Debt Crisis” Myth
1:10 – Government Creates the Pound
2:05 – How Banks Fit Into the System
3:00 – Why Government ≠ Household
3:50 – From Gold Standard to Today
4:45 – Deposits, Not Borrowing
5:40 – Bonds & National Savings Explained
6:40 – Who Really Benefits From Interest
7:40 – Policy Implications & Inequality
8:40 – Ending the Austerity Myth
Credit to : Richard J Murphy