On Friday 7th November 2014, Manchester Metropolitan University and the Centre for the Study of Football and its Communities hosted a conference entitled ‘Football and Culture 2014.’ The event aimed to explore the relationship and interaction between football and wider…
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Money. We all know what it is, but who creates money? The answer is actually surprising. 97% of money in our economy is created by private banks when they make loans, and this is carried out by these banks simply typing numbers into a computer. In doing so, private banks invariably divert this newly created money into house price bubbles and other forms of financial speculation.
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These days we are used to hearing about the power of banks, GDP percentages, hedge funds, shareholders, stock market reports, house prices, the business cycle, deficits, debts, surpluses – but has it always been this way? Has money and finance always been such a prominent focal point for the popular consciousness? And if so, how has the representation of money changed and what does this tell us about our society?
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