> This article insinuates that money is not created out of thin air under the assumption that the thing being created is an IOU and therefore not money. This i

> This article insinuates that money is not created out of thin air under the assumption that the thing being created is an IOU and therefore not money. This is patently false. If you actually read the article, it says very clearly (multiple times) that the IOUs created by banks are money.