I don't disagree w/that definition (i think it's incomplete: store of value, medium of exchange, unit of account, etc) however when I use the term debt loosely here I mean the current privately issued, exponential, compounding interest mechanism.

That's the fundamental problem. This was recognized for a long time in the west, we banned usury, but now if you use that word people either have no idea what you are talking about or get mad at you because they make good money off it.