I wonder why it‘s „just“ called a theory. At least for the central european bank this is the reality. In germany the term is „Giralgeldschöpfung“ which apparently translates to „giro money creation“ - so it seems we are talking about the same thing. When i read about it a few years back and talked to people about it, was surprised how little people know about this. Especially the smart people from the financial industry that i know, or bankers… i just stumbled upon it accidentally.

I am not educated in the financial workings, but the recent history shows that the people in charge might seems educated, but shouldn‘t be trusted.

There is too much of a gap of interests and understanding between the financial industry and the actual economy.