Fiat money is inherently flawed from "summary" of The Fiat Standard by Saifedean Ammous
The fundamental flaw of fiat money lies in its lack of scarcity. When a money supply can be expanded at will by a central authority, its value is inevitably eroded over time. This is in stark contrast to the properties of sound money, such as gold, which has a limited supply that cannot be manipulated by any single entity. The ability to create money out of thin air may seem like a convenient tool for policymakers to stimulate economic growth or fund government spending. However, this power comes at a cost. By increasing the money supply, central banks effectively dilute the purchasing power of existing currency units, leading to inflation. This hidden tax on savers and wage earners is a pernicious form of wealth redistribution that disproportionately affects those least able to protect themse...
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