Not in our lifetime or the next generation. Fiat can & will exist much much longer than expected. Even if people are dying, buildings are burning and wars are happening. Covid showed me/them how easy it is to reset anything at any time. Even if it’s not in a persons best interest.
Discussion
I'm not so sure.
Remember governments don't control money. Central banks don't control money.
Commercial banks control money and therefore have virtually full power over the economy.
If commercial banks like Bitcoin and become increasingly bearish on fiat, that's all it takes.
Confidence is the one and only single reason fiat has perception of value. The more it's debased, the more volatile economies get, the more that confidence fades slowly but surely.
I could see a black swan event causing serious harm to fiat in a decade or two.
