It can be said that bank loans in the form of a credit card are already collateralized by the borrower's reputation
No, it can't. The borrower's reputation doesn't isn't a tangible asset. Collateral needs to be able to be sold to recuperate losses. A bank can't sell someone else's reputation. If someone launched a stable coin, and claimed it was backed up 1-to-1 with "reputation", they would be laughed off the forum
You say that reputation is not worth anything (in terms of creditability), I say that it is, so let's just agree to disagree. A bank can't sell someone's reputation but it can definitely ruin it
So why have you changed your mind? You quote that article in 2016, and you seem to agree in that post that banks "don't need deposits" to create money. Yet now you seem to think that banks don't create money out of nothing, and all loans are collateralized, which is categorically not true
I didn't in the least change my mind
And even in this very thread I repeat what I have been saying for years here, that banks don't need deposits to create new money. But that doesn't mean that banks create money as they see fit in a completely arbitrary fashion. They create money based on demand for money, i.e. through credit. But since most loans require collateral in one form or another, this newly created money is a collateralized form of money. I could even go as far as to say that reputation is also a form of collateral in this day and age (probably even a better one in certain respects)