Hmm,

Your system appears to grant every person the right to print money by their merely being present.

This will fail, for the following reason, unless when present, you trade food, water, entertainment , or something else of worth , then you being present have no value and only becomes a deduction in my potential trading value.

Example, (True Story)
Feed Store accepts credit from everyone that buys from them,
Everyone that pays them uses only their credit,
Feed Store runs out of Product , and goes to buy more, their vendors deny any more product on credit and require something of actual worth,
which the Feed Store owner is unable to give them.
So the Feed Store operator goes out of business and the deadbeats that used his free credit never pay him.
(I know a guy this happened too, at some point in the game items of worth are required, and this illusion breaks.)

Yes, Banks are a scam, by trading multiple times the value of their deposits, and the more multiplies they go beyond their true worth, the closer they get to collapse.
In the US , the Majority of the Banks would have already collapse, however using the politicians they owned , they have stole Value from the Citizens to prop up their corruption , which is why many currencies are now on the verge of collapse.

The more illusion, the faster a system will fail.  
At some point the services or products added to the system by real people are unable to make the illusion believable enough to work.
In other words, The Illusion is Shattered, and only real tangible goods or services to that individual are all that will be accepted.