That debt is created using no resources; banknotes have no intrinsic value, they're exactly like bitcoin. They're creating out of thin air, they can't be used for anything beyond transactions. It's just that their usage is being forced.

You say that debt is evidenced with deposits of those banknotes, I tell you that you can also create debt with bitcoin, if that's your only problem. We have a whole Lending sub-board. There are people who borrow coins with collateral, check it out.