How important is the work done by people who work in finance?

[Grands]

States borrow issuing bonds which are purchased by savers

Yes and savers are common people?
I can buy by myself a bond from the State?

 

[BWV]

Yes, or one from another country

 

[Grands]

Yes, or one from another country

So basically the State create the money and they it have problem with taking it back?

 

[BWV]

No, just think of that as two separate issues. Back when money was gold and silver, uncreated by the state, states still borrowed and went into debt.

 

[Grands]

No, just think of that as two separate issues. Back when money was gold and silver, uncreated by the state, states still borrowed and went into debt.

Yes, I read about this, and about the fact that gold and silver became banknotes little by little, thanks to the bank, but is not clear how the State decide how much money to put into circulation, if was the banks that had the money in the past.