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it's a nice and simple explanation for everyone.the problem about printing money that is backed by bonds is exactly like credit cards, you spend the money that you don't have and have to pay back in the future. and what the US did is like applying a mastercard from Bank B to pay the bill for his VISA in Bank A, and in order to pay the bill from Bank B, he applied another card from Bank C. Which creates a vicious cycle that is going to explode someday (which happens to be today).
Very nice video for education purpose.In fact, there is one country in this planet that is really "duplicating" money in an extreme manner. Click the link below and see how many zero you got on the banknote.http://en.wikipedia.org/wiki/Banknotes_of_the_Reserve_Bank_of_Zimbabwe