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URL: https://criticalcommons.org/view?m=2IS63tLYQ
Concepts: Money supply, moneta
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”?
URL: https://criticalcommons.org/view?m=QduNRprjY
Concepts: Quantity theory of money, monetary policy, inflation, hyperinflation
Background: In Parts 1 and 2, the robbers invaded the Royal Mint of Spain, taking
hostage 67 individuals, with a plan to print and escape with 2.4 billion euros.
• Question 4: What are the unintended consequences of running the money-
printing press? Why can’t the European central bank print a massive amount of
money to stimulate the economy?
• Question 5 (Let’s Use Data): Can the professor’s 2.4 billion euros plan create
inflation in Europe? Money Heist was released in May 2017. To answer this
question, you may use the value of Money Supply M1 for the Eurozone from the
FRED websit
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