Most people think banks lend out deposits that already exist, but fractional reserve banking means they create new money the moment they issue a loan. That newly created money enters the economy and bids up prices, which is a huge part of why inflation doesn't just come from printing cash. If more people understood this, they'd stop blaming only government stimulus and look at private credit creation too. It's not a conspiracy, it's just how the system is designed, and it matters way more than most headlines suggest.