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It depends on what you consider money / creating money to be, I guess - Banks extending credit & lending is increasing money by certain measures, but that's something that individuals can do too - the difference is scale. Both are regulated & restricted by how the market view their ability to lend.
Only a central bank can create money from nothing - and even then they are regulated internally (inflation targets, for example) & externally (trade deficits and the like).
There is a huge, increasing, imbalance. There are slaps on the wrist for criminal actions. There are plenty of problems. I don't think they are caused by having a fiat monetary system. I think they are caused by poorly regulated markets and corporate-centric social and taxation policy.
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NotThamesWater
snottyotter
We cannot create money and banks can, there is a huge power and wealth concentration in international finance atm.
HSBC laundering drug money in the USA. Proven in court. They didn't want to crack down hard on them because it could destabilize the USA economy. That means you have a problem.
But it is more the imbalance/lack of democratic control (we cannot even have the bits of control we'd have in pension funds where we can vote oversight and pick investments) I think that is the issue.