Garden (Policy) Tools: How Important Is It To Know How Money Is Created?

So, our Garden was doing very well up to the early 1970s. All of the above ingredients were acting (more or less) in harmony with each other. (Bear in mind this metaphor is not EXACT). But then water ($) was withheld (i.e., interest rates went up, private banks were deregulated, they started creating money, and central banks stopped creating money).
The result?
The garden (economy) has dried up- with one exception- the banker's area of the Garden- flourishes, as it continues to receive plenty of liquid refreshment!
Otherwise, many areas of the economy (garden) shut down.
Workers lose work.
That's how important the THE POWER TO CREATE money is!

The boring argument put forth by right wing Flatheads is that using the central bank will 'cause inflation.'..
There is always a grain of truth, even in Flathead Logic. OF COURSE the Garden would also die if it were watered constantly! But no one is suggesting that!!

The mandate of any nation-state's central bank (in Canada's case- The Bank of Canada) is to "mitigate"- regulate- monetary 'events' in Canada, that is, they may 'turn on' the Garden hose ($$), turn it off, or let it run at a moderate pace.

So if there is either too much water ($$), or too little, the garden (economy) will not do well.

If only certain people control the creation of money (= water, in our analogy), that is, if it is PRIVATIZED, it is easy to see why the world is in trouble. Can you imagine a world where certain people could dispense or withhold almost ALL water?
THAT'S how important the money-creation FUNCTION is!

Indeed, it can be argued that the privatization of money is at the root of ALL of our social ills: health care, education, etcetera. We urgently need to DIRECT our central banks to create a larger, calculated proportion of the annually determined money supply ON BEHALF OF THE NATION'S PEOPLE; and have the private banks create less- nor would this harm them! They would still make handsome profits. It would be a win-win situation.

But political will is in bed with the Flatheads. (A 'Flathead' may be defined as one who is told by a perceived authority figure that his or her head is flat, and subsequently believes it to be so of the world in general without question, in spite of obvious evidence to the contrary. Most right wing ideologues qualify.)

Human nature being what it is we need a police force to regulate our personal interrelations with each other- if need be- or things quickly become lawless, out of control. We need bank and corporate accountability/regulation on a global scale for EXACTLY THE SAME REASON.
Only then will our splendid garden (the world economy) grow into a beautiful thing.

I can't think of anything else to say on the subject. If anyone wishes the ACTUAL LAW which allows for the creation of money (out of nothing) by the government, I would be glad to quote for you the relevant sections of The Bank of Canada Act.