https://cyber.stevekeen.comGet exclusive Cyber Monday bonuses including Unlimited Ravel use (my proprietary software I use in this video), Q&A calls with me, 100-Day Guarantee and other exclusives at https://cyber.stevekeen.com⌛️ Ends on Monday Dec 1st 11:59PM EST.Banks don’t “lend out” your deposits, they create money when they lend.In this video, Steve Keen dissects the classcial economist's fractional-reserve story, responds to critics, and uses Ravel to show why the classic money-multiplier only “works” if loans are made in cash. Once you enforce real double-entry bookkeeping, the narrative collapses — and the real mechanics of bank-originated money and debt come into focus.What you’ll learn• Why the textbook money-multiplier breaks under proper accounting• How bank lending creates deposits (new money) on both sides of the ledger• Why reserves ≠ “loanable funds” and why deposits aren’t lent out• Where popular explanations violate assets = liabilities + equity• Why getting money creation right matters for debates on deficits, QE/QT, and “can we afford it?”• How Ravel exposes hidden assumptions in neat verbal stories — step by stepKey takeaways• If a model can’t balance the T-accounts, it’s wrong, regardless of how often it’s taught.• Loans create deposits; deposits aren’t a stockpile that gets parcelled out.• Cash is the only way to make the textbook multiplier arithmetic “work”, which tells you the model is not how modern banking operates.• Misunderstanding bank money leads to bad policy: deficit panic, confused takes on QE/QT, and misguided bank rules.About Steve KeenSteve Keen is an economist known for accounting-consistent, data-driven models of money, debt, and instability. Creator of the Minsky and Ravel tools, he replaces classroom myths with operational mechanics you can simulate and test.• Weekly live access & Q&A• Cohort of rigorous, curious learners• Ravel included for accepted students who joinSupport reality-based economics• Subscribe for more Ravel walk-throughs and myth-busting• Like if this clarified how banks actually create money• Share with someone still quoting the money-multiplierGet exclusive Cyber Monday bonuses including Unlimited Ravel use, Q&A calls with me, 100-Day Guarantee and other exclusives at 👉 https://cyber.stevekeen.com#economicseducation #moneycreation #banks #doubleentrysystem #ravel #macroeconomics #fiscalpolicy #monetarypolicy #banking101 #stevekeen

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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