There is nothing unethical about creating money out of thin air -- IF it were to be offered equally across the board to everyone, openly with full disclosure, with equal opportunity, and with publicly sanctioned assistance in implementing it to all people without discrimination.
What is unethical is to do it like a magic trick, hidden behind the scenes, keep it a secret from everyone, pretend that the loans came out of their supposedly already existing, genuine, and limited funds, and that they would therefore be financially harmed if you don't pay it back. That is harmful dishonesty, plain and simple. It is deliberate and unjust enrichment designed to benefit the few at the expense of the many. Read books like "The Creature from Jekyll Island", by G. Ed Griffin, or "Secrets of the Federal Reserve", by Eustace Mullin (available at Amazon). They explain in crystal clear, irrefutable terms exactly how the "Mandrake Mechanism" works . . . how they create money out of thin air and pretend that it is real.
Further, most people don't realize that in all 50 states, it is illegal to loan credit. It is legal to loan money, but not credit. And yet that is exactly what the pretender lenders have been doing.
Thus the commercial remedies rightfully provided to us under the UCC have not worked for most people, even when presented properly, for the simple reason that the egomaniacal controllers have monopolized the benefits of the system for the insiders, at the exclusion and the expense of everyone else. It is for that reason that our credit card debt cancelation system challenges the fraud, rather than attempting to discharge the debt . . . and it is for that reason that this approach has been undefeated.