> Fiat isn't perfect, but at least it allows concentration of wealth to be countered by issuing more fiat money, even if too much of that goes to the rich. Thi

> Fiat isn't perfect, but at least it allows concentration of wealth to be countered by issuing more fiat money, even if too much of that goes to the rich. This leads to greater concentration of wealth. Since people don’t seem to understand that, we have this feedback cycle where policy leads to concetration of wealth, which cause people to advocate policies that lead to further concentration of wealth, over and over again. People need to break the cycke by realizing that printing money causes assets (held by the rich) to appreciate, and wages (earned by everyone else) to decrease in real terms.