[lowkey]

> I’m mainly arguing against the idea that banks take in money as deposits and lend out that same money as loans.

We are in full agreement on this point. Banks never lend out even a fraction of depositor funds. Instead, they have been given a monopoly right by the government to create bank credit as a money equivalent out of thin air.

If you or I did this it would be considered fraud but when banks do it, it is legal.