The Impact of Fiat Money on Inequality

Fiat money is criticized as a primary cause of severe inequality in Western societies. The argument suggests that when a single entity has the authority to create money free of cost, it will inevitably lead to an expansion of that entity's power, resulting in governmental inefficiencies and bloat. This centralization of monetary control is seen as detrimental to fairness and equitable economic opportunities. Ultimately, the discussion advocates for alternatives to fiat money, such as Bitcoin or gold, which could potentially allow for a more decentralized monetary system.