okay I'm at my desk;

No I'm not wrong because this is global standards.

Debt facilitates economic growth. If you want to do anything substantial that increases GDP, you require financing. That is the explicit purpose of banks and bankers. To issue financing and debt. Central banks don't do this by the way, only BANKS.

Debt creates enough leeway for real estate, construction, developments, research etc. etc. to be undertaken without explicit risk in moving physical commodities.

example: Joe Soap wants to create a block of new apartments. This development will cost him 500 million. He goes to the bank, pitches the idea and gets approved financing of 600 million. This 600 million is "funny money" or debt, that has a interest yield on it which he is liable to pay back or will have a underlying collateral to pay. The bankers then take that percentage as profit, whilst PAYING BACK the reserve bank for the issuance. The reserve bank will set baseline rates to either allow for liquidity or remove it. That's all they do.

The 2008 financial crisis was simply an over issuance of shitty debt to buy and build houses. China faced the exact same thing in 2022 with Ever-grande.

The current issuance on car debt for second hand cars is a huge signal again, so look into that. Unsecured loans for second hand cars.

Many many many empires and countries have collapsed upon themselves because they did not issue enough debt to facilitate their endeavors, from the Egyptians, Sumerians, Babylonians, Romans etc. etc. because in order for them to DO any new GDP-growing developments they first had to acquire the GOLD to do so. If you want to look more modern, look at any European empire, including England and how as mercantilism died, so did their grip on territories, wealth, bullion and influence. Belgium, Portugal, Spain, France any colonial power is a case study.

Example: if the Romans had 200 tons of Gold bullion, which is used currently to run the endeavors of the state, then where to they get the capacity to build (and pay) for new buildings or new sieges? Do they take from their 200 ton bullion to pay the workers or the soldiers? That was the case for a long time.

BUT in order to increase GDP, the reserves need to increase. This is mercantilism; Adam Smith/Classical Economics. In order for say, the Netherlands to prosper, it had to take over the Dutch East Indies and Indonesia etc, extract that wealth back to the Netherlands and then have those reserves to develop and grow.

Hence why Keynesian economics ended up winning and why Classical/Austrian economics is relegated to the hollow halls of social media and podcasts.