[QuantumAphid]

I found this article to be unnecessarily complex. Can banks and lending institutions create money out of thin air? Contrary to the title of this article, in the US the answer is yes. Money is created by the "stroke of a pen" on the ledgers of accredited/regulated banks in the US banking system. In fact, that's primarily where "money" is created, and not on printing presses at Federal mint buildings.

[baobabKoodaa]

This is incorrect. The title of the article does not contradict this statement. The title does not claim that money is not created, it states that banks need no magic powers to create money. Can you see the difference? If you actually read the article, you will find that it agrees with your statement.