Why does anyone accept fractional reserve as okay?

Money is supposed to represent productive labor. It is literally supposed to be your hard work stored in a fungible way. So, when a select minority of people are allowed to generate ten times as much money as there actually is, what is that money worth? There is no stored productive labor in it. That fractional part is completely illusory. It allows that small group to steal a portion of your hard work, your energy. It's a total scam. Why do people go along with it?