The ignorance of libertarians is exemplified by this meme:
Vox Day helps point out resources to how money is created:
I will post separately on how I've personally seen banks create money through debt.
Once you understand that debt is money, then you will come to this conclusion the same as Vox Day:
Now, perhaps you will understand why I am a deflationista. And so are you, if you believe that any of the current outstanding debt will be written off or otherwise go unpaid, even if you don't realize that you are. Debt forgiveness and bankruptcy-related debt write-offs are the literal destruction of money, and since deflation is a reduction in the money supply, any reduction in the amount of debt must necessarily be deflationary.