Very true! However, I refer to debt as something an individual needs tonoay back like credit cards. Fiat is an asset for the holder but a debt to the issuer like the US for USD. That is the context I meant...
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Banks also are banning debit cards. Has nothing to do with "credit". More importantly fiat is no asset. Fiat is debt. If it were an asset it would be a stock (something which grows in value over time) or land. One of the worst mistakes in my opinion is to hold money in a bank expecting the value of that money to go up over time like an asset.