I should have been more clear. The money from nothing is not a premise. It's a fact of fractional reserve banking which pretty much every country practices. Let's take a 10% reserve requirement - that means a bank with $1 in acceptable assets (varies some by jurisdiction) can "lend" $9. How is that not creating $8 out of nothing? Assuming they do "lend" that $9, that means for $1 in real money (federal reserve notes (cash) or deposits at the federal reserve in this case), there is an additional $8 in circulation (electronically usually). That means the real *usable* money supply is considerably more than the total cash in circulation. (I haven't shown the math but it's relatively easy to work out.)
Every country that does fractional reserve has a similar situation, regardless of local regulations or specific structure. Thus, United States, Canada, United Kingdom, etc., which all have quite different specific rules, still have the same problem with money being created by bank lending.
Incidentally, fractional reserve lending is exactly the same thing as renting a house to three different parties simultaneously except fractional reserve lending is legal and renting the house three times is fraud. In both cases, the same object is being let to different parties at the same time. It's clearly ridiculous to do so with physical objects so why is is okay with money? (And before you pounce, I am *well* aware of the way economics works and the history and reasons for fractional reserve. I still don't agree with it.)