The power of money creation is in the hands of private institutions more explicitly than that. When a bank lends you money, they are just incrementing the money

The power of money creation is in the hands of private institutions more explicitly than that. When a bank lends you money, they are just incrementing the money counter in your bank account. They cannot print bills, but they do for all practical intents create money. https://www.bankofengland.co.uk/explainers/how-is-money-created https://www.bankofengland.co.uk/explainers/how-is-money-crea...