Edit via comment: I was drawing parallels to the system of central banks & Federal Reserve (i.e. those that create monetary supply), not just individual banks.

Edit via comment: I was drawing parallels to the system of central banks & Federal Reserve (i.e. those that create monetary supply), not just individual banks. The point was simply that physical dollars on hand << assets on balance sheet. At least with a crypto system, we would (theoretically) be able to account for all the tokens issued... Case in point: "Holding U.S. Treasurys? Beware: Uncle Sam Can't Account For $21 Trillion" https://www.forbes.com/sites/kotlikoff/2019/01/09/holding-u-s-treasuries-beware-uncle-sam-cant-account-for-21-trillion/?sh=77fe256d7644 https://www.forbes.com/sites/kotlikoff/2019/01/09/holding-u-... It's all immaterial anyway; someone already beat me to the punch: USDT, USDC, etc.