I don't think the problem is the fiat system failing, but the fiat doctrine that has proliferated over generations. I think the real problem started with imperialism which help to start using money as a commodity. We start see commercial banks that all its activities is to offer different monetary products which is a non productive service. From that era, people like governments started accumulating money for other purposes than exchanging with products/services. Many people think that the crisis had started with the dollar but the problem has already started long before. When paper money was first used as a commodity and currency, it initially seemed like a brilliant idea. People didn't need to carry tangible exchange tools like gold and silver. They were given paper that represented the "value" of their wealth. But problems began when this belief became widespread and banks began manipulating data. I once read an article that said a bank had $10,000 worth of gold reserves, but they could issue notes worth over $100,000 from their bank accounts. Since then, the financial system has been in trouble. Inflation, debt, and government corruption can occur because money is just a piece of paper worth nothing. Some people can become very rich while others become very poor because the value of money continues to decrease due to inflation, and inflation is an inescapable cog of modern finance. I even heard a friend say that inflation must be around 2% to keep the economy turning and the country from being on the verge of crisis. By the way, I think if we still used the gold and silver exchange system today, no country would collapse due to hyperinflation like Venezuela, Argentina, or Zimbabwe.
I don't think the problem is the fiat system failing, but the fiat doctrine that has proliferated over generations. I think the real problem started with imperialism which help to start using money as a commodity. We start see commercial banks that all its activities is to offer different monetary products which is a non productive service. From that era, people like governments started accumulating money for other purposes than exchanging with products/services. Many people think that the crisis had started with the dollar but the problem has already started long before. When paper money was first used as a commodity and currency, it initially seemed like a brilliant idea. People didn't need to carry tangible exchange tools like gold and silver. They were given paper that represented the "value" of their wealth. But problems began when this belief became widespread and banks began manipulating data. I once read an article that said a bank had $10,000 worth of gold reserves, but they could issue notes worth over $100,000 from their bank accounts. Since then, the financial system has been in trouble. Inflation, debt, and government corruption can occur because money is just a piece of paper worth nothing. Some people can become very rich while others become very poor because the value of money continues to decrease due to inflation, and inflation is an inescapable cog of modern finance. I even heard a friend say that inflation must be around 2% to keep the economy turning and the country from being on the verge of crisis. By the way, I think if we still used the gold and silver exchange system today, no country would collapse due to hyperinflation like Venezuela, Argentina, or Zimbabwe.

I don't think the problem is the fiat system failing, but the fiat doctrine that has proliferated over generations. I think the real problem started with imperialism which help to start using money as a commodity. We start see commercial banks that all its activities is to offer different monetary products which is a non productive service. From that era, people like governments started accumulating money for other purposes than exchanging with products/services. Many people think that the crisis had started with the dollar but the problem has already started long before. When paper money was first used as a commodity and currency, it initially seemed like a brilliant idea. People didn't need to carry tangible exchange tools like gold and silver. They were given paper that represented the "value" of their wealth. But problems began when this belief became widespread and banks began manipulating data. I once read an article that said a bank had $10,000 worth of gold reserves, but they could issue notes worth over $100,000 from their bank accounts. Since then, the financial system has been in trouble. Inflation, debt, and government corruption can occur because money is just a piece of paper worth nothing. Some people can become very rich while others become very poor because the value of money continues to decrease due to inflation, and inflation is an inescapable cog of modern finance. I even heard a friend say that inflation must be around 2% to keep the economy turning and the country from being on the verge of crisis. By the way, I think if we still used the gold and silver exchange system today, no country would collapse due to hyperinflation like Venezuela, Argentina, or Zimbabwe.

I don't think the problem is the fiat system failing, but the fiat doctrine that has proliferated over generations. I think the real problem started with imperialism which help to start using money as a commodity. We start see commercial banks that all its activities is to offer different monetary products which is a non productive service. From that era, people like governments started accumulating money for other purposes than exchanging with products/services. Many people think that the crisis had started with the dollar but the problem has already started long before. When paper money was first used as a commodity and currency, it initially seemed like a brilliant idea. People didn't need to carry tangible exchange tools like gold and silver. They were given paper that represented the "value" of their wealth. But problems began when this belief became widespread and banks began manipulating data. I once read an article that said a bank had $10,000 worth of gold reserves, but they could issue notes worth over $100,000 from their bank accounts. Since then, the financial system has been in trouble. Inflation, debt, and government corruption can occur because money is just a piece of paper worth nothing. Some people can become very rich while others become very poor because the value of money continues to decrease due to inflation, and inflation is an inescapable cog of modern finance. I even heard a friend say that inflation must be around 2% to keep the economy turning and the country from being on the verge of crisis. By the way, I think if we still used the gold and silver exchange system today, no country would collapse due to hyperinflation like Venezuela, Argentina, or Zimbabwe.