Debt is older than money. Debt created money. You don't need a Federal Reserve to create money, you can make it yourself. If I do work for you, and you can't p

Debt is older than money. Debt created money. You don't need a Federal Reserve to create money, you can make it yourself. If I do work for you, and you can't pay, and you give me an "IOU", that is debt, and if I agree to make that IOU transferable that that is money. The Federal Reserve system is simply one specific kind of money that is only special because the US government accepts it for tax payments and certain other kinds of money at illegal.