Dear @julianhorack

Great read buddy.

any central bank who has the licence to print paper fiat money backed by nothing but the paper it’s printed on.

Aren't all printed money backed by debt? I thought that creating debt is necessary to print more money. Therfore my conclusion was, that as long as we can create more debts -> more money can be printed.

The problem would naturally start in times when money flow is slowing down and demand for new debt is also reducing.

This scam you're describing did help to boost economies around the world. That's the fact. So all people living in past 50 years enjoyed a great ride. Now it will surely face difficult times and difficult questions.

All fiat currency deteriorates in value.

History shows that all fiat currencies eventually will die. But then there is chaos and out of this chaos new FIAT currency will be born and entire ride starts from the beginning. Am I wrong?

Yours
Piotr