[kybernetikos]

According to wikipedia, Standard and Poors, and the Bank of England the view I give above is considered outdated and wrong. Oh well.

https://en.wikipedia.org/wiki/Money_creation#Credit_theory_o...

http://www.kreditordnung.info/docs/S_and_P__Repeat_After_Me_...

https://www.bankofengland.co.uk/-/media/boe/files/quarterly-...