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Quote:
I have just read enough information from credible sources
Could you cite the sources, please?
From The Horses Mouth: The Federal Reserve on Monetizing Your Promissory Note
MODERN MONEY MECHANICS – Federal Reserve Bank of Chicago
"The actual process of money creation takes place primarily in banks. As noted earlier, checkable liabilities of banks are money. These liabilities are customers' accounts. They increase when customers deposit currency and checks and when the proceeds of loans made by the banks are credited to borrowers' accounts..."
"In the absence of legal reserve requirements, banks can build up deposits by increasing loans and investments so long as they keep enough currency on hand to redeem whatever amounts the holders of deposits want to convert into currency. This unique attribute of the banking business was discovered many centuries ago...
"Then, bankers discovered that they could make loans merely by giving their promises to pay, or bank notes, to borrowers. In this way, banks began to create money. More notes could be issued than the gold and coin on hand because only a portion of the notes outstanding would be presented for payment at any one time. Enough metallic money had to be kept on hand, of course, to redeem whatever volume of notes was presented for payment...
Transaction deposits are the modern counterpart of bank notes. It was a small step from printing notes to making book entries crediting deposits of borrowers, which the borrowers in turn could 'spend' by writing checks, thereby 'printing' their own money. – page 3
"If business is active, the banks with excess reserves probably will have opportunities to loan the $9,000. Of course, they do not really pay out loans from the money they receive as deposits. If they did this, no additional money would be created. What they do when they make loans is to accept promissory notes in exchange for credits to the borrowers' transaction accounts. Loans (assets) and deposits (liabilities) both rise by $9,000. Reserves are unchanged by the loan transactions. But the deposit credits constitute new additions to the total deposits of the banking system..." – page 6
I BET YOU THOUGHT… - Federal Reserve Bank of New York
"Banks create money by monetizing debt." For example, if the Fractional Reserve is 10%, a bank that has on deposit $1 million (10% of $10 million) can loan an additional $9 million, money the banks don't actually have- they've created money!
Checkbook money is ‘created’ by currency deposits. Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars to accounts on their books in exchange for a borrower’s IOU.
Money creation bookkeeping isn’t gimmickry. Far from it. Banks are creating money based on a borrower’s promise to repay (the IOU), which, in turn, is often secured or backed by valuable items the borrower owns (collateral).
Banks create money by ‘monetizing’ the private debts of business, individuals and governments. That is, they create amounts of money against the value of those IOU’s.
To create money, however, banks must have ‘excess’ reserves, funds exceeding those they are legally required to hold.
If a bank has excess reserves, it can create an amount of money equal to the excess; it can grant a loan. Borrowers write checks against their new deposits. When these checks are deposited at other banks, those banks collect payment form the borrower’s bank. Bankers know that when other banks present borrower’s checks for payment, they will have to transfer reserves on a dollar-for-dollar basis.
Deposit creation, rather than currency deposits, accounts for most of the $375 billion of checkbook money.– page 27
MONEY, BANKING & MONETARY POLICY – Federal Reserve Bank of Dallas
It may not seem to make much sense, but banks actually ‘create’ money when they lend it. - page 9
Banks actually create money when they lend it. Because the loan becomes a new deposit, just like a paycheck does… – page 11
TWO FACES OF DEBT – Federal Reserve Bank of Chicago
Other characteristics that vary with types of debt are the collateral a borrower offers, if any, the contractual arrangement for payment of interest and principal, and the negotiability of the debt instrument itself. – page 1
In addition to issuing securities, the federal government, through the Federal Reserve System, issues non-interest-bearing debt-currency or paper money. Currency is so widely accepted as a medium of exchange that most people do not think of it as a debt. Technically, however, Federal Reserve notes are liabilities. – page 4
Debt provides a money creation function. It also provides a means of creating entirely new funds...
But a depositor’s balance also rises when the depository institution extends credit – either by granting a loan to or buying securities from the depositor. In exchange for the note or security, the lending or investing institution credits the depositor’s account or gives a check that can be deposited at yet another depository institution.
New money has been brought into existence by expansion of depository institution credit. – page 18 & 19
POINTS OF INTEREST – Federal Reserve Bank of Chicago
Banks and Deposit Creation
Depository institutions, which for simplicity we will call banks, are different from other financial institutions because they offer transaction accounts and make loans by lending deposits. This deposit creation activity, essentially creating money, affects interest rates because there deposits are part of savings, the source of the supply of credit.
Banks create deposits by making loans. Rather than handing cash to borrowers, banks simply increase balances in borrowers’ checking accounts. Borrows can then draw checks to pay for goods and services. This creation of checking accounts through loans is just as much a deposit as one we might make by pushing a ten-dollar bill through the teller’s window.
With all of the nation’s banks able to increase the supply of credit in this fashion, credit could conceivably expand without limit. – page 7
BANKING AND MONETARY POLICY  Federal Reserve Bank of Texas
“…banks create money when they lend it. The loan becomes a new deposit into the customer’s checking account just like a payroll check does”- page 11
These are all quoted verbatum right out of Federal Reserve Pubications 
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