>This is what commercial banks are essentially doing. It's not like they have some superpowers. Everybody can do this. You can't create $1,000,000 in a spendab

>This is what commercial banks are essentially doing. It's not like they have some superpowers. Everybody can do this. You can't create $1,000,000 in a spendable form. Banks can. What you have proposed is the creation of some sort of worthless security which, yes, anybody can do.