Except for one thing. You sit across from the loan officer. Your credit is good, and he slides the promissory note across his desk for you to sign. Does the PN have value before you sign it? No! Does it have value after you sign it? Yes! How much value? The same amount as the loan. You sign it and slide it back across the desk. The loan officer accepts it, and moments later hands you the amount of the loan in the form of a check or cash. --- Translation. You create new money when you sign the PN. You loan it to the loan officer for a moment, or pay off the loan in advance with it. Then you get your created money back from the loan officer. --- But you don't understand what just happened. So you spend the next few years paying off the loan a second time, plus interest. There is no debt. Lending institutions are taking up ownership of the world, and you are helping them do it.