In a credit money system, you don't need to issue coinage in order to issue money. Most 'high-powered money' (created directly by the Central Banks) is not in the form of coinage. And most money is not high-powered money.

The national deficit is basically the State issuing money in excess of its revenues to mobilize resources.

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS