Technical question - where did you get that 50:1? May you link the source? I mean I found for US banks something like average capital ratio of round 10%, which means rather 10:1 and efforts to increase the buffer effectiveness (and size) by regulations prescribed by Basel accords.
Actually such risk is the reason why quite many countries have prescribed in their constitution independence of central banks. (effectively just one more branch like ex. judiciary) Regardless of any friendships, the main limitation is risk of inflation increase. Does any
first world country has elevated inflation now - let's say two digit inflation? (for argument sake you might count mine as first world ;) ) If not - it seems that you somewhat overestimate practical use of that limitless money creation possibility.