I think it more like Government owns it from the onset for protecting your usage of anything.

This is the importance of understanding the naked contract of endorsement. You admit that using the Fed's currency puts a residual ownership to the shirt on your back with the central banks through national debt. I develop this line of thinking all the time so I am going to offer more in response.

I have learned to live with the government owning everything so long as I can use my stuff. This presumes the government will stay in honor. So things like Registered Mail being tampered with become disturbing and even disruptive - causing a resulting trust.