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Although no individual bank created money, the system as a whole did.
Your mouth, to be precise, the one that created 'Money' Mayweather.
If necessary, it could restart quantitative easing (QE), the buying of gilts with newly created money.
It will buy mainly government bonds but also some corporate debt with the newly created money.
But there is still scope for monetary easing in the form of bond-buying programmes, financed with newly created money.
When banks buy new securities, the newly created money flows through the system, raising asset prices and reducing interest rates.
Instead of the newly created money being used for speculative plays, why shouldn't governments use it to finance infrastructure?
Instead, newly created money can be put in at the roots of the economy, through ordinary consumers.
The bank will buy mainly government bonds with the newly created money but will also purchase some corporate debt.
In the alternative galaxy of virtual currencies, newly created money can become worth millions of real dollars in a few months.
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His analysis illustrates how consumers, too scared to spend central bank-created money for fear of future tax rises, are purchasing property instead.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com