I disagree with some aspects. Firstly money abstractly can be several different things. I consider this as axiom to modern economics until convinced otherwise. The central bank in most economy only actually "prints" new money via its bond coupon payment. This is never balanced and only net credit to money supply.
Actually it may be slightly more complicated. But I assume as key axiom that when a bond is issued, the coupon payment or interest is net credit to the money supply. This is different then special, inter government bonds used by the government and these special bonds are not subject to a open market. These are ideally paid back from tax revenue.
So the bond coupon say 2.9% over 30 years on the principal barrowed is new money. The original principal is actually short term debit from the money supply until it is paid back. And the interest finally, a net addition to the money supply.
The primary area of disagreement I have is this. Under normal circumstances you have steady growth. For example consider China's and worlds use of the usd. Each year new entities enter the global exchange of goods and services using the dollar. Theoretically at some point the integral amount of dollars is not enough, an extreme example would be say you had 20 cars and I have 1000 computers, we each have 2 dollars, now John, born yesterday would like to sell his fathers supply of apples but has no dollars. I want apples, have too many computers and could use a car. But at todays prices I can only buy two apples. Clearly now the currency is no longer a useful tool in the real economic situation in which people can create value out of virtually nothing, improve their poor situation, and all in a beneficial, cooperative economic strategy.
Ideally the money is a tool which must be periodically maintenance to serve the natural economic trade, which transcends the money supply. If it is not there becomes a very natural economic force to bypass it. This is generally seen as the money losing its integrity, forcing, alternative money (oh hey there bitcoin), stealing and things perceived as crime, but are really just attempts to bypass problems with a broken tool, and proceed freely and economically.
Additionally governments have admitted to tightening the money supply in what the call monetary policy. So that if the real, underlying economics get tight, like computers, cars, and apples drying up, they can create a perceived relief from such recessions and prevent depressions.
So we can see that under these assumptions the money supply is one factor in the big economic picture the others are typically much more important, like education levels, natural resources, carrying capacities, energy, population and what not.
Now inside this big complex real economy, you have a the ability to net produce money in very small window where a non government loan is created inside your window, and paid back outside of it. This is then virtually creation of money. Examples of this might be taking on debt as a ceo then retiring.
There are many obvious problems with this. Typically there is more interest then can be repaid, and default OR essentially freely giving money back becomes necessary, also is coupled with economic forces for currency to lose integrity, or a shift to alternate currency. This is interesting economic phenomena in its own right, a general breakdown in cooperative strategy and move to non cooperative. It is not clear which is the cause or effect. But it appears to happen naturally with out choice.
This is a good picture of todays money usd which is mostly created by debt from private banks instead of by the government. It essentially relegates private and corperate banks to do what fed has done in the past. Several things are clear, the debt levels and unwillingness of the central banks to print money, instead turning to corporate bank lending- is unprecedented. Oddly enough while democratic presidents have typically been seen as progressive, modern thinkers, they have set the precedence of extremely tight monetary policy, often operating on the money supply produced under republican administrations. One can argue about the humane effects of monetary policy on the poor. Prisons overflow, homelessness rises, and apparently all at the cost of choking the economy incase of recession. If then, the let off has any real effects is debatable as well.
There are some negative effects of regulation of money supplies. This is primarily inflation. In many economic models inflation does occur, as a result of growing economy. An example of this is the Euro. With Brexit the E.U. would experience a shrinking number of economic players using the euro for trade, as such we have seen negative bond rates over there to prevent inflation, possibly literally learning Euros if that is the method used to destroy bills removed from circulation.
In today's times it is in my opinion we are heading to tougher times and uncertainty in the big economic picture. We have climate change, end of Moores Law, which has fueled the boom of the 90s. But even coming from the Reagan/Vulcan era 14% bond coupons, there were still problems. I view it as testing the waters and the powers which make such decisions thought, (from a long term 100 year outlook) they weren't impressed by semiconductors and that we were shakey in the knees. And quickly pulled back.
It is difficult to know and interpret the vast economic signs and clues but here today after a modest pop up to 3-4% the 30 year declines ounce again towards 2% remaining flat, among the blatant debt, poverty we just have to keep in mind how complex the world is and realize we probably don't understand everything.