Money, whether in the form of banknotes, coins, or digital credits in our bank accounts, is at the heart of nearly everything we do in modern life. But we rarely give it any sustained thought. What, after all, is money, really? How does it work? Where does it come from? Who controls the banks? How does monetary policy work, and what roles do central banks play in its use?

Jens Weidmann at a lecture at the Embassy of the Federal Republic of Germany in Paris.