[simo7]

> When you can create money backed by nothing

Isn't that what money really is about?

Debt and money go together. When you take on debt your creditor can decide to sell his credit to somebody else, de facto using your promise to repay your debt as a currency.

Isn't your promise...just a promise? Yet you can buy stuff with it?

[jkhdigital]

Fungible debt is a money substitute. The strictest definition of money would require that it has no counterparty.