Who own an asset can create money !!!!

Several centuries ago, the goldsmith could create paper money based on gold because he kept an amount of gold…. So, once you have an asset, you can create money  !!!

But, the goldsmith had created also paper money not backed by gold. 

 Why ???  because several centuries ago, gold and silver were the only two commodities universally accepted ….. So, they have imagined "fake gold" to get more credits !!!!!  Nowadays, with Gold, oil, fiat currencies, “money - like” and complementary currencies,  we can accept many guarantees for payment.

Money doesn't need to have an intrinsic value , but only a strong guarantee to be accepted ! Cash (coins and notes)  is still accepted worldwide , because cash is rare !!! but once a currency collapses, even the cash is worthless.