How is dollar debt created and who owns it?

Where do your taxes go in the federal government and does the government need taxes for spending? Why do central banks exist? What was the effect of President Nixon taking the US off the gold standard in 1971?

When in history has hyperinflation ever happened, and what were the causes of it? Can a government ever run out of money? What is the maximum debt-to-GDP ratio a country can safely have? Why does Japan have a debt-to-gdp of 234.9% and the 5th largest economy?