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Gary, you may find the subject Modern Monetary Theory very relevant to your thinking. It appears you have many of the traits of MMT's advocates. One objection I read from your's is that foreign investment or foreign trade imbalance really is not draining the money supply basically because that I.O. U. or Treasury Security is a savings account that can only be spent or draw interest in dollars. Those dollars in savings are the sum balance of dollars that are in circulation, or in the money supply. One is the other in the ledger book, so to say. If we did not have the 18 trillion supposed debt or Treasury Security's we would not have any money to loan to the economy. Best Regards.