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by Nasrudith
1960 days ago
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That is a popular narrative partially owing to some very ugly zombie tropes and the archaic understanding of wealth as shinies to be grabbed - but it simply isn't true. We had it already with various (bi)metallic standards and they had documented worse problems. Fiat currency has yet to cause wars of conquest to prevent deflationary lock up that proceeded to crash the economy through inflation after causing untold personal suffering /on success/. The maligned federal reserve already takes care of the "try to hyperinflate our ways directly out of problems to get reelected". If anything it could have the more "neutral" role of financial network independence but it still suffers the flaw of interchange chokepoint control putting them back to square one. |
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