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foreign [Music] of money creation explained were going to cover understanding how all your money in the bank is an IOU of the banks when we give our money to the bank whether its to a large National Bank Regional Bank or small local bank in your area they all follow the same business model the bank is receiving money from Bank deposits from their account holders and giving out ious back to those account holders by placing the digital account balance on their statements the bank in turn loans those funds out to others who pay interest on the funds using a 10 factorial rule Banks only need to have 10 percent of clients funds on hand for when clients actually want those funds this means the money that is represented in account holders online and paper statements is not real money but merely the digital representation of the funds held in that account the bank is actually creating new money supply in the economy by leveraging existing money to generate more loans which produce interest m