Let's cut to the chase here. When any bank makes a loan, it is granting unequal access to the monetary machinery that defines an economy. Unequal access because one bank depositor must first earn money to put on account while the borrowing depositor only needs to have a consenting decision.
Sadly, the title of this post comes close to being a canard. In fact, the whole discussion about two very different bank actions, whether banks create money or use money owned by others, comes close to being a canard.
That said, how in the world did I come to this perspective shifting conclusion? It was after I wrote the following material discussing private banks in the world of real fiat money.