I agree with the facts and at the end of the day we are arguing semantics. People who understand the complexity of the fractional reserve system have their blood pressure burst through the roof whenever someone says it allows banks to "create money". But it's only a misnomer caused by oversimplification, it's more accurate to say that they create credit based largely on the faith that both, A) people will pay back loans and B) people won't withdraw money - both can happen when counties are under financial stress. Some purists like to say they don't create money, i.e the physical supply of fiat doesn't change, but this number is arbitrary and what's more important is the value, which the banks have a large role in protecting if they want the power to issue credit. In my opinion, your just arguing semantics if you say banks aren't responsible for money because they don't directly increase fiat money supply because at the end of the day they do regulate value and it's the value that matters.
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