Its becoming more widely known all the time that banks create money out of thin air and that Govt can do the same thing using the exact same method if they wanted to.

Are you aware that it was your servant govt who gave the banks the right to control the creation of money but at the same time your servants did not reserve for you and I, through their legislative power, the right to do the same thing on our behalf. If they had, it's likely that you and I would be paying little or no tax at all today.

Why do I say the govt gave the banks the right to create money to the exclusion of govt? Well, because the commonwealth government is the supreme power in the country is it not?

The banks can't give themselves that power can they? .... can they?

Before someone goes on about govt cant be given control of money otherwise will have runaway inflation bla bla bla.

Govt prints about 5-10% of the money in circulation. The banks, through their ability to create money out thin air when they put money into an account your and my signature creates, creates 90-95% of all the money in circulation.

You also need to know that there are no laws in any country about how much or how little credit banks can create. Think about booms and busts i.e. 1929, here