Debt based monetary system favors the few rich and enslaves the poor masses. In a fractional reserve banking system money creation requires loans from the banking system. People are required to go into debt in order for any new money to be created. This can debase the means of exchange. Banking system expands the money supply, and it is problematic that banks "create money out of nothing." and demand interest for it. Why should the bank have the privilidge of creating money without creating value to show for it?

In a debt based monetary system and fractional reserve banking, entire population becomes a slave to the bankers. Banks create money out of thin air and demand interest for it when we borrow:

www.tradingstocks.net/html/banks_create_money.html

When entire money supply is debt, as we have it now, entire population is paying interest on it (via taxes, mortgage, or other debt). This debt is the principal, but it needs to be paid with interest. Interest portion is not created yet. Thus, at times when borrowing stops (because we cannot afford it), bankruptcies, foreclosures soar. Deflation starts. People cannot pay debt. It is not their fault. It is a mathematical reality that in a debt based monetary system some will go bankrupt. Web of Debt by Ellen Brown explains it best:

www.kondratieffwavecycle.com/web-of-debt/

Average Joe does not know that his mortgage contract is a musical chairs game. Some borrowers are guaranteed to foreclose because the money to pay total debt does not exist! Banks are guaranteed to get their homes while ordinary people loose their life time savings! It is a robbery!