Most people in the UK still believe in the power of royalty — and the power of the honours system. We accept that a knighthood is created from nothing with a tap of the King’s sword. Yet many refuse to accept that the government creates money in exactly the same way: by tapping a few keys on a keyboard.

In this video, I explain why knighthoods and money share the same foundations: state authority, public trust, and responsible stewardship.

Money is not limited. Knighthoods are not limited. Both can be over-issued. Both can be under-issued. And both are destroyed when they’re no longer needed.

If you believe in the power to create honours, you already believe in the power to create money — even if you’ve been told otherwise.