Most of the broad dollar emission globally over the past many decades came from commercial bank lending which creates deposits. More of this has been done outside the US than within. The imbalance between physical money in circulation and debt outstanding is partially the result of the rest of the world creating dollar liabilities because they use dollars. This forces the US into a position in crises where it can either provide the needed liquidity or watch it all burn down. As your post highlights, the world is actually dreadfully short of real dollars.