I am talking about the consequence of fractional reserve banking. Specifically that money is made by banks to some amount. Also I think saying "we don't have fractional reserve banking" is needlessly splitting hairs. The requirements are just more complicated than "hold onto X% of deposits".
We don't even have fractional reserve banking. There is no reserve ratio, it's 0. Bernanke's own published book states it is only fractional reserve banking when it is required to keep a fractional reserve.