"This outlook that hard money encouraged existed in most of the world until the 1980s and 1990s, by which point fiat money, and the central-bank-led glut of fiat mining, had made debt inevitable and

savings pointless for most people. Rather than save for major expenses, people now get into debt to pay for them, accruing a larger negative balance of fiat. People are born to families in debt and spend their entire lives in debt. Success consists of being able to secure ever-growing quantities of debt as you pass through the stages of life: a big college loan that allows you to get into the best paying job, whose salary will allow you a larger loan for a large house and another loan for a car. With more hard work at the

company and dedication to its cause, you may succeed in getting an even larger negative balance of fiat for a bigger home and fancier car. Should you succeed even more and start your own business, you do not do it with your own accumulated capital, but rather with a bigger loan. The larger and the more successful the business, the more you are able to borrow. In sum, success in fiat means accumulating larger negative cash balances, and people live their entire lives stacking debt obligations upon themselves." Such a great quote from Saifedean Ammous