I got about 20 minutes into that "Money as Debt" video -- that's when he starts departing from, let's say, generally accepted theories of money. I don't have time to watch the whole thing, but I gather from other descriptions of the video that he advocates a policy of fiat money and repayment of debt via deliberate inflation, which is exactly the theory of the old Social Credit movement in Western Canada. That self-destructed.
He's correct that banks create money through loans. He's totally wrong when he says that money represents servitude.
He's ignoring that the purpose of debt is to create value, specifically to be able to do things today that make us all wealthier in the future. Yes, banks create money from nothing. That's because things of value - real wealth - are being created all the time, "from nothing", or at least, from nothing that is represented in the economy. They're mined out of the ground or grown from the sun, soil, and rain, or some complex permutation of all the above. Which is why we allow banks to grow the amount of money to represent it. When we take out a loan, we are saying something like "I'm pretty sure I can mine some copper out of that hill. So give me some capital now because I need to get a shovel." Rather than say money is debt you might as well say that money is certitude of present or future wealth.
By the way, this is the hidden truism of Paul Graham's mantra, "make something people want". Because "something people want" is another name for "wealth", and "wealth" is, under normal circumstances, easy to turn into money. So someone who says "make something people want and you'll make money" is expressing a near-tautology. (One that escapes most people, so it is good that he says it.)
I'm not totally in favor of our current systems, but that's another topic. And you have to know how the system works now to change it.