In a pure fiat monetary system, a bond is issued by the treasury in exchange for fiat from the fed. If this is the only way money is created, then interest charged on this money can never be repaid with fiat, because the fiat money to pay the interest wasn’t created along with it. Make sense? It’s a trick to extract a forever cash flow at an ever increasing rate, consolidating ownership, necessitating higher prices, which requires more debt. Once introduced to a financial system, there is no stopping it. I view bitcoin as the antidote to this distortion. There is a transition period where lending will happen and fiat money will exist along side bitcoin, but eventually a majority will only want sats and nobody will trade sats for fiat, especially in a cbdc world.