{"id":56928,"date":"2021-05-12T07:59:14","date_gmt":"2021-05-12T06:59:14","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=56928"},"modified":"2021-05-12T07:59:14","modified_gmt":"2021-05-12T06:59:14","slug":"why-do-banks-need-money","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/05\/12\/why-do-banks-need-money\/","title":{"rendered":"Why do banks need money?"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>This is the third in my series of videos on money, banks and all things to do with them. I have explained <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/05\/10\/what-is-money-2\/\" target=\"_blank\" rel=\"noopener noreferrer\">that money is just a promise to pay<\/a>, and also explained <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/05\/11\/how-banks-create-money\/\" target=\"_blank\" rel=\"noopener noreferrer\">how banks create money<\/a> when you make a promise to pay them. But in that case why do they need to hold your cash when they don't lend it out? In this video I explain why<\/p>\n<p><iframe loading=\"lazy\" title=\"Why do banks need money?\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/fiAyiSNy13A?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; This is the third in my series of videos on money, banks and all things to do with them. I have explained that money<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/05\/12\/why-do-banks-need-money\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,194],"tags":[],"class_list":["post-56928","post","type-post","status-publish","format-standard","hentry","category-economics","category-youtube"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/56928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=56928"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/56928\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=56928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=56928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=56928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}