Simon Dixon claims US banks “own the Fed” and create money when they issue loans

What was said

"banks create the money every time they issue a loan, >> but they're subordinate to the Fed >> or the central bank. >> No, they own the Fed. So the Fed is owned by the banks."

Guest Simon Dixon claims that commercial banks create money when they issue loans and argues that the US Federal Reserve is “owned by the banks”, describing it as a quasi public-private mechanism. He uses this framing to support a broader thesis about financial power shaping economic and political outcomes.