>In sum, at least in the United States and England, most money creation stems from loans within the private sector, as opposed to what the movie and textbooks t

>In sum, at least in the United States and England, most money creation stems from loans within the private sector, as opposed to what the movie and textbooks typically suggest. I'm having trouble finding it at the moment but I remember reading a while back on the Federal Reserve's FAQ section about this. They were actually quite explicit about this, stating that if one of the big banks went under they would bail it out by printing what they needed, like they did in 2008. It is a bizarre design