The U.S. dollar is not a national currency. The dollar is an accounting unit used to record debts on bank ledgers. A dollar in your checking account is not a dollar that you own, it’s a dollar that your bank owes to you on-demand. Those are called “demand deposits,” that’s what we spend every day. Demand deposits are created when loans are issued. Every single dollar in circulation was loaned into circulation. Therefore there is never enough money to pay the interest, so debt spirals. As interest on the entire money supply compounds, banks gradually claim a greater share of GDP, until eventually banks will own 100% of economic output… feudalism 2.0