It's a major a fallacy that the poor tend to stay poor. We have longitudinal data on income mobility we can look at to see if this is really true. And it's not.

Based on long-term income mobility data, we can see that about 80% of the people who were poor in 2010, are no longer poor today. About 20% of them have moved into the top two quintiles for income.

So the argument that there's an intractable poverty trap that's been created by fiat currency just isn't true.