Spaceless Debt-Based Monetary Architecture

Having revealed a space blind financial value frameworkFinancial value framework and mathematics, our discussion must now address our monetary architectureMonetary architecture. This chapter is about how money is created. It is not an academic and historical review of money and money creationMoney creation, but a factual description based mainly on Bank of EnglandBank of England and US Federal ReserveFederal Reserve (FED) publications. I have adopted this approach intentionally. The purpose is not to debate the many theoretical functions of money or the role of banksBanks as financial intermediaries. My aim here is to demonstrate that money is created through debt instruments.