The ability for the US to print it's own currency has had positive and negative effects. It requires a great deal of self control regardless. It's like a company with the ability to create new shares - great for raising capital, bad for existing shareholders (but hopefully just in the short term)
It seems like we've avoided the hyper hyper inflation thus far, though recent events make it seem like the government is ready to spend trillions of dollars on a whim. That in addition to one party's desire to lower taxes, and another party's desire to increase social services - make for a constantly devolving financial situation no matter who is in power.
It could be that inflation drives productivity by way of businesses innovating in order to minimize the amount of price increase caused by inflation. Without additional revenue though wages would stagnate and not match inflation.
All of this might really be necessary in the 'new world' where countries are more like companies and need to constantly innovate to stay ahead.
Given the long history of humanity, I don't believe things are generally as peaceful as they are now, and that may either represent an anomaly or a stalemate, but I don't believe it will last forever.
I guess the gist of this post is, if you're a country then a fiat currency is ideal to keep ahead of the pack with your population constantly working/producing/innovating. If you're an individual and understand this game - then holding equities, property, cypto is in your best interest, but doesn't obviate the need for a fiat currency to exist.
It seems like we've avoided the hyper hyper inflation thus far, though recent events make it seem like the government is ready to spend trillions of dollars on a whim. That in addition to one party's desire to lower taxes, and another party's desire to increase social services - make for a constantly devolving financial situation no matter who is in power.
It could be that inflation drives productivity by way of businesses innovating in order to minimize the amount of price increase caused by inflation. Without additional revenue though wages would stagnate and not match inflation.
All of this might really be necessary in the 'new world' where countries are more like companies and need to constantly innovate to stay ahead.
Given the long history of humanity, I don't believe things are generally as peaceful as they are now, and that may either represent an anomaly or a stalemate, but I don't believe it will last forever.
I guess the gist of this post is, if you're a country then a fiat currency is ideal to keep ahead of the pack with your population constantly working/producing/innovating. If you're an individual and understand this game - then holding equities, property, cypto is in your best interest, but doesn't obviate the need for a fiat currency to exist.