Due to debt structuring most wealthy people are living in debt.

This actually makes sense if you realise that most governments and currencies also choose to live on debts. Governments choose to connect issuing Government bonds (a form of debt) and selling them, in order to print thier own currency (which they already have the right to do as much as they want without the game of selling bonds).

They do it, because of Neoliberalism.

They could create currency under different strictures and systems of record keeping and balances… But they choose this extra ponzi set up of ever increasing debts and infinite growth. After all, it’s what the wealthy do.