> Actually, it's exactly the cash from the depositor, loaned out. It's not, because it doesn't show on the depositor's ledger. The bank will not tell you that

> Actually, it's exactly the cash from the depositor, loaned out. It's not, because it doesn't show on the depositor's ledger. The bank will not tell you that you have $10,000 left in your checking account because the remaining $90,000 have been loaned. It will tell you that you have the full $100,000 available to you at any time, relying on the fact that on average more than 90% of their depositors' money is extremely likely to remain unsolicited by them.