This is the second article about the creation of money from this author that I have read. In both instances there have been inaccuracies in his description of it.

In this case, money simply does not "die" when a loan is repaid. The bank has received an amount of money equal to that which was lent (plus interest), which can be used by the bank for whatever purposes it might have.

In the contemporary monetary system money never dies. It can be held in an account somewhere (in the nation of its origin or some other nation) or under a mattress, etc. and be out of circulation indefinitely, but, once created, it is always still around.