One line? No. But short-ish.

For the US and Europe and some other nations.

Getting a loan from a legal bank or other lending institution.

Let's say you are applying for a loan. All the preliminaries have been taken care of... you have good credit, and the bank thinks that you will be able to pay the loan back over the term. They are ready to give you the loan.

You are sitting at the desk, across from the loan officer, ready to sign the final piece of paper (promissory note... promise-to-repay paperwork) that will get you the loan.
----- If you DON'T sign the paperwork, will you get the loan? No.
----- If you SIGN the paperwork, will you get the loan? Yes.
What does this mean?

It means that the paperwork has value if it is signed, but not if it isn't. It has enough value to get you the, say, $50,000 loan. After you made the paper have value (by signing it), you hand it to the loan officer, and he hands you the $50,000.

In other words, you gave the loan officer value, and he gave you value back. It was an even trade. But because of the wording on the paperwork, what you really did was to prepay your loan, just like you can pay your car off early.

Since you paid off your loan already, why do you spend the next 10 years paying it off again... and interest? They tricked you. You paid off your loan before you received the loan value. You are making the bank rich by repaying the loan again.

What really is the promissory note that you signed, when the bank receives it from you? It's a creation of new money. You and the bank created new money together. Once the trade is completed, neither of you owes the other anything.

This is the way it has always been. It's found in the Uniform Commercial Code (indirectly). And it is found in past money manuals from the Federal Reserve Bank... like "Modern Money Mechanics" and "Two Faces of Debt."

Since this forum isn't really the place to go into it in detail, search on "Tom Schauf, bank freedom" - https://www.startpage.com/do/dsearch?query=Tom+Schauf%2C+bank+freedom&cat=web&pl=ext-ff&language=english&extVersion=1.3.0. Tom was a bank CPA who even taught other CPAs.

An additional note is from an article about the bond market collapse in Australia... "Australia’s central bank has equity wiped out by billions in bond losses" - https://www.cnbc.com/2022/09/21/australias-central-bank-has-equity-wiped-out-by-billions-in-bond-losses.html. Note what the bank indicated, "Australia’s central bank on Wednesday said its equity had been wiped out by losses suffered on pandemic-era bond buying, but its ability to create money meant it was not insolvent and would continue as normal."

Note that the bank creates money. This post is about the way it is done.

Sorry about not being brief. For people who don't understand any of this, it can't be brief.