“Ironically, it might actually be the case that there would be less demand for savings under a monetary system in which money was hard and held its value. If you knew with good certainty that you had ten years’ expenditures saved, and that you could reliably expect their value to be consistent over time, you would probably not feel compelled to add more savings and could then take more risks with the rest of your capital. However, when money is a bad store of value, and stocks and bonds involve higher risks, you are less certain about ten years’ expenditure stored in investable assets. This might well lead to risk aversion, insecurity, and requiring larger quantities of savings.”
— The Fiat Standard: The Debt Slavery Alternative to Human Civilization by #SaifedeanAmmous