Learn 50+ Years of Economics in Only 7 Weeks, by applying here: https://www.stevekeen.com(Plus get Ravel™—the economic visualization tool used in this video—as a bonus if you’re accepted & join.)Top Economist Steve Keen dismantles the textbook “Money Multiplier” myth and shows—step by step—how banks actually create money using double-entry accounting. With evidence from the Bank of England (2014) and the Bundesbank (2017), Steve explains why mainstream models mislead students and policy makers, and demonstrates the real mechanics in Ravel.In this eye-opening analysis, you’ll discover:✅ What the Money Multiplier claims—and why it fails basic accounting✅ How the Bank of England & Bundesbank debunked the textbook story✅ A live Ravel demo: banks buying bonds vs. “lending from reserves”✅ Why “loans in cash” is a 19th-century artifact, not modern banking✅ How banks actually create deposits at the moment of lending✅ Why ideology (not logic) keeps bad models in the curriculum✅ The Bernanke–Friedman Great Depression narrative—and what it ignoresKEY INSIGHTS:• Double-entry accounting test: assets − liabilities = equity must balance on every row—textbook Money Multiplier operations don’t.• “Lending from reserves” breaks the books unless loans are paid entirely in cash—contrary to modern practice.• Real-world banking: banks simultaneously mark up loans (asset) and deposits (liability). That’s how new money enters the system.• Ignoring bank money creation leads economists to blame the state and miss private-credit cycles.This isn’t theory vs. theory—it’s accounting vs. error. If you care about how money really enters the economy, you need the operational picture, not a classroom fable.🎓 Want to learn 50 years of real economics in 7 weeks?Apply to Steve’s Seven-Week Rebel Economist Challenge: https://stevekeen.com💻 Bonus: Ravel™ access is included for accepted students who join.💬 What did you think of the Ravel demo and the accounting checks? Share your take in the comments!🔔 SUBSCRIBE for more reality-based economics👍 LIKE if this clarified how banks actually create money📤 SHARE to help others move beyond textbook mythsConnect with Steve Keen:Website: https://stevekeen.com--Who is Dr. Steve Keen?Dr. Steve Keen is a leading economist known for challenging textbook myths with empirically grounded, accounting-consistent models of money and debt. A PhD economist and creator of the Minsky and Ravel tools, Steve has spent decades showing why private credit dynamics drive booms and busts—and why ignoring bank money creation leads policy astray. His work is essential for engineers, finance professionals, and technologists who want operational clarity rather than abstractions.Learn 50+ Years of Economics in Only 7 Weeks, by applying here: https://www.stevekeen.com(Plus get Ravel™—the software used in this video—as a bonus if you’re accepted & join.)#MoneyMultiplier #MoneyCreation #BankOfEngland #Bundesbank #DoubleEntry #Economics #SteveKeen #Ravel #Macroeconomics #BankingSystem

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