Have you heard “Banks making loans and consumers repaying them are the most significant ways in which bank deposits are created and destroyed in the modern economy” (McLeay, Thomas, & Radia, Money creation in the modern economy, page 3)?

Have you heard “Banks making loans and consumers repaying them are the most significant ways in which bank deposits are created and destroyed in the modern economy” (McLeay, Thomas, & Radia, Money creation in the modern economy, page 3)?