https://www.zerohedge.com/markets/only-bitcoin-gold-can-stop-governments-destroying-currency
"Government spending is out of control in developed nations. Furthermore, no interventionist government wants to cut spending or balance the budget. Government spending empowers politicians, and reducing it means losing the grip on the economy.Interventionist governments aren’t concerned about debts, deficits, or inflation. Inflation is a deliberate policy, and interventionist governments seek to nationalize the economy while imposing total control over productive sectors by issuing continuously devalued currencies.
Government spending is printing money. Politicians are happy to promise more free stuff by endlessly spending because they know they won’t pay for it and that it will make citizens and businesses more dependent and submissive to political power. No government can truly reduce debt without cutting spending.
Inflation is evidence of the loss of solvency for the issuer of money. It is a de facto slow default. Inflation serves as a policy that justifies and perpetuates significant government imbalances, shifting the financial burden onto real wages and deposit savings.
The fallacy of balancing the budget through higher taxes leads to economic stagnation and more debt. High taxes are not a tool to reduce debt but to justify high indebtedness. Tax receipts are cyclical whereas government expenditures are consolidated and annualised.
No interventionist government is going to willingly act to reduce debt and spending because they can always tax more and blame others for their problems. Furthermore, central banks have stopped playing the essential role of curbing fiscal excess to become enablers of rising fiscal imbalances.
Central banks play a crucial role in the fiat world due to the intertwining of monetary and fiscal policy. The system will gradually collapse if central banks do not stop the growth of government fiscal imbalances.
However, the independence of central banks is diminishing daily, and their policies tend to conceal excessive government spending and debt. Meanwhile, governments ignore the fact that they have surpassed the three limits of government debt: economic, fiscal, and inflationary. More government debt means lower growth, more taxes generate weaker receipts, and more government spending perpetuates inflation.
Now that central banks have stopped being the essential limit to government excess, there are only two alternatives: gold and Bitcoin."
My thoughts are were are a long way away from anything changing, the first step is everyone realizing it, then the government will keep continuing the policies in denial. Similar to what happened in Lebanon, government will have to keep printing because that's all they know how to run an economy.
(20min delay)