WHO CREATES MONEY? Money consists of commodity money. Technically no one creates

WHO CREATES MONEY?
Money consists of commodity money. Technically no one creates commodity money any longer, everyone creates commodity money substitutes we call currencies, and almost exclusively fiat or monopoly State currencies.
The treasury, the central bank, all dependent banks, any institution that can loan on a fractional reserve, every investment institution that can issue speculative debt instruments, and anyone who can issue credit via any of the above can create money substitutes.
Why? Because while a Treasury (at least today) creates currency and coins as fiat money, the vast majority of monetary creation is through credit money: records of debt, all of which are insured by the State (to some degree), and therefore by the people, and backed only by present demand and speculation on the future production of the people whose surplus via taxes paid by the people.
As such all fiat money, as a money substitute, consists of a share of stock in the corporation of the state, and trades on the markets as a share of the state.
However, there is no current method of competing internationally against the capacity of States to issue shares to use as currency, to use as a money substitute, largely in the form of debt records, precisely because credit expansion is the most efficient method of producing incentives to produce while at the same time producing self-determination by sovereignty in demonstrated interest and reciprocity in display word and deed we call sovereignty, liberty, freedom, insurance, and security that we all appear to favor more so than their absence. 😉
But, like I said, institutions lag. And this problem is easily corrected. And I’ve written the law to correct it. Had the bank of England started out ‘properly’ then it might not have. But they created the foundations of state money and banking, which from their origins maintained the control of that money by the investors in the central (state) banks.