[tabby title=”Money Heist Clip #1″ icon=”film”]

  • Clip URL: https://criticalcommons.org/view?m=2IS63tLYQ
  • Concepts: Money supply, monetary policy, open market operations, GDP, commodity money, fiat money
  • Background: The mastermind of the heist (the “Professor”) argues that the European Central Bank (ECB) “made 171 billion euros out of nowhere” in 2011 and that the public did not call the institution a thief. Instead, the ECB called it “liquidity injection.” The professor also says, “I’m making a liquidity injection, but not for the banks. I’m making it here, in the real economy.” He rips up a banknote, explaining to inspector Raquel Murillo that “it’s nothing, it’s paper.” In Part 3 of the TV show, the professor tried to destabilize the economic system by using an airship to scatter 140 million euros above Madrid, in the form of €50 and €100 notes. The people rushed to gather the bills.
  • Question 1: What was the intent of the ECB when it created this money? Is it comparable to theft?
  • Question 2: Can this also stimulate the real economy?
  • Question 3: Why does the professor consider that these notes are “nothing”?