[didericis]

I’m still reading that book, but he describes pure fiat as response to that kind of dynamic (people noticing the value of the debt being reduced relative to hard money and it being harder to sell). I believe he cited a couple other examples of pure fiat/lack of gold or hard asset convertibility, but don’t remember what they are. This wikipedia article mentions some examples: https://en.wikipedia.org/wiki/Fiat_money