It is well known that money only truly gets created in the economy via new debt - when I take out a loan, the bank hands me cash that is backed by some small pe

It is well known that money only truly gets created in the economy via new debt - when I take out a loan, the bank hands me cash that is backed by some small percentage of the holdings, determined by the govt and ruled by the interest rate of bonds. This is why bond prices remain low, because banks are simply not lending enough/people aren't borrowing enough to allow rates to rise.