The return to sound money is necessary from "summary" of The Fiat Standard by Saifedean Ammous
Returning to sound money is not a luxury, but a necessity. It is the only way to ensure a stable and prosperous economic future. The current fiat standard has led to a myriad of problems, including inflation, debt accumulation, and financial instability. By returning to sound money, we can avoid these pitfalls and create a more sustainable financial system. Sound money is based on tangible assets, such as gold or silver, that have intrinsic value. This provides a stable foundation for the economy, as the money supply is limited by the availability of these assets. In contrast, fiat money is created out of thin air by central banks, leading to an endless cycle of inflation and devaluation. Inflation erodes the purchasing power of individuals, making it harder for them to save and invest for the future. It also distorts price signals in the economy, le...
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