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I recommend this short paper on the topic: https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy This paper is a bit longer, but is also often recommended: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1905625 Both papers are pretty accessible...

Sorry for resurrecting this thread, but I'm curious about the bolded part (which you mention a few times in this thread). This sequence is the reverse of what I have seen elsewhere. For example, in this post 312 says "The only use for this is if you have negative cash before selling the box."...