This lecture explains the contents of this paper:
Asad Zaman (2016) "The Battle for the Control of Money: Comments on Zarlenga & Poteat 'The Nature of Money in the Modern Economy -- Implications and Consequences" JKAU: Islamic Econ., Vol. 29 No. 2, (July 2016) pp 81-94.
The lecture explains how state and private banks and financiers all create money. The power to create money is of extreme importance, and history is deeply affected by who has that power. A lot of wars have been carried out to take the control of money away from the state, and give it to private parties who make enormous benefits from and ALSO make enormous efforts to CONCEAL this power.
L12: Battle for Control of Money - Video Lecture 1:35
9: More Readings and Lectures on Money - Last page of this course provides some key readings which explain ideas covered briefly in this lecture on the battle for money