The process of money creation and its determinants rank among the major controversies within monetary economics. The origins of this controversy can be traced down back to the beginning of the 19th century century: the Bullionist controversy then divided the thinking on monetary theory into two streams. The orthodox stream has continued with Currency school framework, Irving Fisher and the whole neoclasical approach to the monetary economics, Milton Friedman and his monetarist analysis and finally with the New Classical Economics. For decades, the addherents to this stream have shared a firm belief in an exogenous nature of the money supply and in a quantitative controlability of money creation. The opposite stream has developed in Banking school framework, Wickselian monetary thinking, Keynes´s approach to monetary issues and finally in a wide array of Post-keynesian theories of money. In this stream, money are an endogenous variable in an economic system capable of flexible adjusting to "needs of trade". The theory of endogenous money presented is based on a behavioral approach to the process of money creation. It reflects the institutional and historical context of economic systems. Demand for banking loans is a major driving force behind money creation. This does not imply an impossibility for a monetary authority to influence or control this process. Central bank remains a powerfull player, however, its influence on the economic dynamics has to be exerted through indirect, non-quantitative ways. The overly simplified orthodox approach of a stable multiplier and a stable function of demand for money is to be rejected, according to the theory of endogenous money.