The US Constitution was written by Google's ancestors. They had the same motivation to limit the federal government then as Google does now: The federal government is a competitor. Geographically connected states can be spanned, with little cost, by any company with enough resources, so a company can grow big enough to go toe-to-toe with a state government. Federal government, on the other hand, is harder to fight with.

Savings are government deficit. For the non-government sector to save there has to be a surplus. For the non government sector to have a surplus the public sector must run a deficit. Every dollar in existence was issued through a deficit. Money is created out of nothing because that's the only way it can be created, but the government is almost always the last step in the process. And the obsession with inflation is pretty weird. Eco-metrics don't suffer. Numbers don't feel pain or starve to death. A real threat to sentient beings is from things like unemployment, social immobility, lack of education or healthcare. These are real social problems with real effects that are for more of a threat than the inflation boogy-man. The government issues currency mostly IN RESPONSE TO the non-government sector issuing debt. That debt HAS TO BE issued in order to fund savings and investment, which HAS TO happen in order for new jobs to be funded. Refusing simply stops new employment from being funded. These real social problems cause the economy to become deficient, reducing the usefulness of the economies sovereign currency, causing the government, when it HAS TO issue new currency to issue more and more as a simple reflection of the failing value of the currency caused by real social problems. The US can never be forced to default on a debt denominated in dollars. It just isn't possible. It can't even be forced to pay interest to foreign holders of debt. Governments pay interest to purely control interest rates. And dollars can only be spent in the US, so all add to aggregate demand for US products. If the debt is denominated in gold, it can default if it can't get enough gold.

This is an interesting thought experiment but it has no connection with reality. Money isn't created or issued by someone deciding that everything is worth whatever. It's like saying "imagine all metres were an inch long". That won't make everyone think it.

So in the real world, where real things happen, this isn't near true. Money is created when banks issue loans. Banks issue loans based on market forces and do so without government permission and do so whether they have reserves or not. In fact, in reality anyone can create money, and people do every time they issue an IOU, the difference is whether a third party would accept them in exchange for things. Saying money is independent of trading is like saying debt is independent of trading: nonsense.