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teaches us that the bank IOUs (checkbook money) have no value

without first depositing cash or promissory notes to create the
bank IOUs traded as money.

It explains how banks create money

(bank IOUs), "based on a borrower's promise to repay..."
The banks create money "against the value of the alleged
borrower's promissory notes.

The publication then admits,

"Money doesn't have to...be issued by the government."

The same publication admits that promissory notes are

money by admitting that any item having the following three
traits is money: 1) anything individuals or banks "generally
accept in exchange for items of value", 2) a standard of measuring
value, 3) purchasing power stored for future spending.

Money owed disqualifies checkbook money

as a standard of measuring value; the new asset and new liability
represent the same funds deposited.

Apply the bank's definition of money to bank checkbook

money and you have just proved that checkbook money is not
money. The bank checkbook money is merely a score card of
money banks owe depositors. It is a standard of measuring value
owed for the asset. Money owed disqualifies checkbook money
as a standard of measuring value; the new asset and new liability
represent the same funds deposited. A check or checking
account balance (liability) without cash (asset) behind it has no
value. It is an IOU that cannot be paid. The publication admitted
that the value of the bank's IOU (checkbook money, token,
liability) came from the borrower's IOU (promissory note/asset).

CONCLUSION!!!The bank token/liability is merely a

substitute representing the real money recorded as a bank asset
(cash). The promissory note (asset) has equal value of cash,
making the promissory note equal to money (asset).

In court,
it is common for the bank to claim that the promissory note is
money to the bank, but not money to the alleged borrower. How
can it be money and not money at the same time? If they admit
it is money to the bank, then the banker must admit that they
received money from the alleged borrower to fund the check. If
this is the case, where is the money loaned to issue the check?