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The incentive distortion of money
Fiat currency leads to excess debt accumulation due to the debasement and depreciation of money over time. This creates an incentive for individuals to borrow stronger dollars today and pay back weaker dollars in the future. The distortion in incentives is a result of the overproduction of money. In contrast, a gold standard does not incentivize debt accumulation because gold tends to appreciate over time. The excessive debt in the world is a consequence of the corruption of money, which is the centralization and monopolization of money by central banks.