John writes, Of all the problems with fiat currency, the most basic is that it empowers the dark side of human nature. We’re potentially good but infinitely corruptible, and giving an unlimited monetary printing press to a government or group of banks is guaranteed to produce a dystopia of ever-greater debt and more centralized control, until the only remaining choice is between deflationary collapse or runaway inflation. The people in charge at that point are in a box with no painless exit.
As further proof, just look at today, the dollar index is over 89 and the rest of the world’s major/minor currencies are sinking.
All empires considered “modern” for their “time” have imploded by entitlements and it always will till man totally self-destructs, then it will end. A global gold standard or commodity standard could delay the inevitable, but that would also be perverted because that is what man has always done and always will till he no longer exists on the earth and that to will come to pass. Why? Man has an inherited disease he cannot mitigate and no one escapes the disease; most do not recognize it within themselves, but clearly see it in others.