Unless bank credit is worse than cash then it is money

When banks issue deposit accounts they are increasing the money supply and printing money. Banks do print money when they extend deposits because they are guaranteed by the Government. If 'money' is assumed to be only cash then of course banks do not print money, but this is not the true definition. Banks print money because the word 'money' means more than simply cash, it generally means the most widely circulating medium of exchange, by most definitions. Because the definition of money is more broad than is assumed, commonly, when people say that banks do not print money they are stating a falsehood if they mean only that they do not print cash. The most commonly circulating medium of exchange is (made up of) a combination of bank deposits plus cash outside the banking system. To establish that banks do not print money, we must show how bank credit is inferior to legal tender cash. If bank credit is not worse than cash then it is money.