‘So ECB can create money at will. ECB can create as much debt free physical or digital cash as they want. But only big banks (tier1 banks) are allowed to get digital cash since they are the only ones holding central banks accounts. The rest of the society are force into debt to the banks since the only money (besides physical cash) the society can get hold on are the banks so called ”credit” that the banks create out of nothing and ”lend” out. So why not let ECB create debt free digital cash so that the society can pay off their the debts the banks created from nothing? The simple reason is that the banks don’t wont to lose their debts slaves.
As Fredrick Soddy, Nobel Prize winner in chemistry, put it:
”There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth. An honest money system is the only alternative.”