I want to add that the Fed creates money out of nothing and then that money is exchanged for real things in the economy (say the Fed prints & buys a bond or a Freddie/Fannie Mortgage security) the money will eventually end up in a commercial bank. As a new bank deposit it will become a new reserve for that bank. The banker then has the ability to loan up to a multiple of 10 times that reserve in new money created out of thin air, through the fractional reserve process, and earn interest income on that which was created out of thin air -and gov’ts tax revenue rises with that income. I consider this activity fraud.
If I labor and trade my produce for money and choose not to consume with that money, I have the right to lend it to you. You can borrow my savings and consume in my place, the products and labor that I have contributed to the economy. Then your labor & productivity will replace your consumption to earn back the money to repay me. That is honest lending.