When we have a currency that isn't pegged to a tangible and limited source of value, over time, there becomes no reason for limitation, responsibility, accountability and checks and balances. Especially when the wrong people slide into the position of "managing" it.
50 years after the gold standard was removed in the U.S., debt levels went through the roof, especially government debt and spending. Politicians soon realized that money could be created out of thin air, allowing them to create astronomical expenses and legislative bills with lax oversight on expense control. And why wouldn't they operate like that, there is no accountability for their reckless monetary actions other than getting "voted out" which they never cared about because they were rigging their elections to stay in power.
A few recent examples this has lead to:
Trillions in covid relief bills
70 billion to corrupt Ukraine
350+ billion spending bill to "stop inflation" (yes, they think we are morons)
Give themselves pay raises
Fund the agencies to target Americans
These types of expenses would never be possible with a limited currency. The corruption and demise of not just our country, but most countries worldwide are under the burden of fiscal bedlam due to a severely flawed monetary system that is at the end of its road. It is also the reason why the wealthiest 1% own most of the assets worldwide. It was likely designed and implemented that way for this reason. All this changes for the better when the currency is backed by tangible value, perhaps Bitcoin/Gold/Silver/Energy/Rare Materials one day.
