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The Accounting Identity of Money Creation explains this very well, David Graeber Author of the excellent Debt the First 5000 years did a very good presentation of it in the Guardian.
My own poem the magic money tree HAs a stanza setting out the three main schools of thought on money cration which of course has always to account for Public/Government debt.
https://www.youtube.com/watch?v=GY3B7DHmWgQ
https://www.youtube.com/watch?v=GY3B7DHmWgQ
Economists argue about Theories Three
Commodity, Chartalist or Credit Theory
In Truth all Theories of the Merkel tree?
Are Based upon a Tautology, That´s MMT.
Beardley Ruml made it quite clear in the late 1930’s that Taxes regulate aggregate demand and express policy agenda but do not fund public spending.
Hairsplitting over math notation is one thing this discussion will not have even started until a spat over the loanable funds model or
Job Guarantee over basic income breaks out.
Job Guarantee over basic income breaks out.
Finally, the peerless Professor Richard Werner, SPells it out on a Bumper Sticker.