The Fiat Dollar Standard: Its Uncivilized and Destructive Nature

This article examines the current global monetary order, the fiat dollar standard, and demonstrates that fiat monetary systems are unethical, uncivilized, and destructive. Fiat monetary systems are fraudulent and ruinous as they deceive, distort, defraud, dispossess, destabilize, and destroy. This makes fiat monetary systems not only unethical and uncivilized but also atrocious. The article is structured into three parts: the first discusses the concept of human civilization, providing a principled understanding and definition; the second overviews the evolution of the fiat dollar standard; and the third explains the uncivilized and destructive nature of fiat monetary systems. The third part contains five sections: central banking, commercial banking, non-bank financial institutions (primarily shadow banks), the eurodollar system, and the fifth section addresses some of the many detrimental effects of fiat monetary practices.