The "banking cartel" doesn't create new money and doesn't get new money for free. They can only borrow it at market rates. The central bank can create money but it is not allowed to spend it. It can only lend it or swap it for collateral.

If what you have in mind is fractional reserve lending as indirect money "creation", this also creates liabilities for the banks. The banks owe to depositors all the money they "create" this way. It's not free money.