To create money out of thin air requires lending. When money is lent, the money is counted twice, once for the lender and once for the borrower. Supposedly the borrower does something useful with the money, earns 5% on it, repays the lender and keeps the spread between his earnings and the interest he had to pay the lender. This is why fractional reserve lending is so dangerous: what happens when the borrower is unable to repay?
This is why the lending "dance" begins to resemble the tarantella, going faster and faster.