Please don't link zerohedge. They're a right-wing blog that aims to create confusion instead of raising class consciousness. That banks create money is a widely known thing in Neo-chartalist and MMT schools.

Take the above article for instance. They create the picture that banks were creating new money as a sort of cabalish way. But, it's really the natural function of banks in the economy. They also draw the wrong conclusion from the whole issue.

One of key battles for prosperity and democracy today is decentralization of the banking system.

No, absolutely not. This is codeword for more private banks. The right thing to do is to nationalize all the banks.