Why is our money based on debt? Why do banks keep getting away with nearly collapsing the global economy? Why do private institutions have the right to coin currency?

Because banks put themselves in extremely risky situations, and civilization is based on the idea that money has value and the law is enforced. So laws get passed whenever they’re in danger (usually self inflicted)

Banks have security through legislation. It’s extra illegal to hack them. And since that’s the case, what’s a little more risk for a little higher profit? -_-