How Money Works : The Inside Story

The Bank of England pull back the curtain on how money really works, and what happens when it doesn’t. Where does money come from? What gives a £1 coin its value? And whose job is it to actually print banknotes?Most of us think about money every day. But we tend not to think about how weird it is: a totally abstract concept, built entirely on trust, which somehow makes the whole world function. The Bank of England know more about money than most – after all, they are the ones responsible for making sure it works. Now, the Bank answer all the questions about money that you’ve never thought to ask – from what makes money money, to how private banks create money every time they give out a loan, to what happens to cash when it’s past its sell by date (it’s often moulded into garden furniture, as it turns out). Along the way, they offer your one-stop guide to how money really works – and where it might be going next.