Coincidentally, Bank of England has a terrific explainer on this exact topic [1]. It gets straight to the point and explains without resorting to jargons. [1]

Coincidentally, Bank of England has a terrific explainer on this exact topic [1]. It gets straight to the point and explains without resorting to jargons. [1] https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf https://www.bankofengland.co.uk/-/media/boe/files/quarterly-...