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In this episode of "Money Creation Explained," the tutorial discusses how individuals can create their own money using IOU notes, similar to banks. Traditional banks generate money by granting new loans (e.g., mortgages, car loans, credit cards), which are recorded as deposits in borrowers' accounts. Each loan effectively creates new money through accounting entries, with these deposits representing a liability or IOU from the bank to the customer. Customers can spend these IOUs using various payment methods. The IOU notes platform allows individuals and businesses to replicate this process of money creation by issuing credit when products or services are exchanged, extending banking-like capabilities to everyone.
