What if the system that created money did it in a way that was more fair or more responsive to everyone up front? Banks get permission to issue money as debt from governments, who charter those banks and back the money that they issue. That’s because the multitude of credit exchanges with other parties would allow for everyone’s accounts to reconcile at the end of the day without having to actually exchange money. Baradaran maintains that history has shown state-backed money is the only kind of money that has ever had any lasting and substantial reach and impact. Theoretically we could have a money system that is not tied into state policy, but we’ve never in the history of the world ever had that.