Section "Money creation in reality" [1]. States that 97% of money in circulation are from bank deposits, the majority of which are themselves created by commerc

Section "Money creation in reality" [1]. States that 97% of money in circulation are from bank deposits, the majority of which are themselves created by commercial banks (though it doesn't explicitly state that the rest comes from governments). [1] http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf http://www.bankofengland.co.uk/publications/Documents/quarte...