There's a very good (non-Bitcoin specific) documentary about exactly this. Goes into close detail about what fiat is and how unsustainable a fiat based economy fundamentally is.

https://www.youtube.com/watch?v=XcGh1Dex4Yo

TL;DR:

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That meme is spot on.

A great summary how they will take all collateral is the free book "The Great Taking" thegreattaking.com. I am currently recommending it everywhere. It's an easy read.