Is There a Debt Based Monetary System?

When you look at all the countries in the East who got slammed by the by the Asian financial crisis, the message they took away is we need a lot more reserves. It doesn't mean reserves in the modern sense of well, you got to have that 10% reserves back in your currency. Part of it is I can I can ICan finance a war without having to tax. Now if I have reserves, then it's my tax surplus that then gives me the capacity. Because it's not really money. It's really debt.