Saifedean Ammous:

> Many people have a strong emotional attachment to fiat money because of its connection to nationalism and the nation state.

> Fiat money is created through interest based (riba) lending. As a result, debt becomes unavoidable. Individuals, small businesses, corporations, and even entire nations are all trapped in debt.

> You probably know many people in your own life who are burdened by riba based debt. The question is: who do we actually owe this debt to?

> A riba based fiat system allows people to borrow against their future selves. Structurally, the system is designed so that taking on debt often makes more economic sense than saving fiat currency.

> This is a complete inversion of historical logic. In the past, societies saved in scarce forms of money, such as gold, to secure their future. Today, saving is discouraged while debt is incentivized.

> As the money supply expands, uncertainty about the future increases. This directly affects human behaviour and decision making.

> The advancement of civilization has always depended on lowering time preference: delaying gratification, increasing savings, accumulating capital, and producing with the future in mind.

> The shift from a gold based standard to a fiat, riba based system represents a reversal of that civilizational process.