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I don‘t think that fiat money is broken per-se. It‘s more that institutions and people are escaping it via debt and banks.

This was always the case, like for example renaissance aristocracy traded their privilege to draft military for inner city housing in Italian city states.

Today it‘s just easier to do those trades because digital is fast and global.

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Discussion

Stavros 1y ago

It is the owner/dispenser of fiat money that breaks right, no?

Josua Schmid 1y ago

I rather think the dispenser is forced into a situation where it can react only. I think long-term central bank planning is a myth. It‘s reactive to economical threats, so it‘s only „flattening the curve“ and not causing the problem.