Is the Anger Toward Fiat Currency Justified?

Back in 2012, the Cato Institute published a paper titled The Coming Fiat Money Cataclysm and the Case for Gold. The libertarian think tank is hardly unique in its animosity toward the fiat currency system, nor was its 2012 paper wholly unique in its concepts and sentiments. It did, however, predict some of the issues we are trying to resolve today, notably inflation linked to the era of “cheap” money through low-interest rates.

Today, if you look at social media, particularly platforms like Reddit and Twitter/X, you’ll also find plenty of derisory posts about the fiat system. What’s more, we might argue, albeit unscientifically, that the backlash is growing. Some of this can be quantified. For example, there is some correlation between the rise of Bitcoin as hard money with a limited supply and
the criticism of the fiat currency system. However, some of it is not so easy to quantify, such as the animosity toward fiat currency being linked to wider dissatisfaction with the state.

But is any of it justifiable? The problem with answering that question is that there are both economic and sociological answers. The former is easier to frame, whereas the latter is not. Let’s start, though, by analyzing what we mean by fiat currency, which will help us understand its critics.

Fiat currency is effectively all money

Fiat currency is essentially money not backed by a physical commodity (gold or silver, for instance). It is, therefore, nearly all the money in existence in the world today. When you look at the trillions of dollars being traded in forex markets, it is fiat currency that’s being traded. The Canadian dollar used to be partially backed by gold, and some of its value is derived
from oil prices, but despite some arguments to the contrary, it remains a fiat currency.

So, why, then, should we criticize money? Well, it’s due to the fact that having no physical backing, such as a lump of gold or a barrel of oil, central banks and governments can print that money out of thin air. The charge against it is that printing new money creates more of it (naturally), and that eventually devalues it. You’ll often see anti-fiat accounts on Twitter/X
posting charts of how their currency’s purchasing power has declined or will decline over time. This is the economic argument against fiat currencies.

This chart shows how many years it would take for each fiat currency to lose 50% of its buying power if today's inflation rates remained constant.

The red line marks the average number of years worked before retirement.

There will be no retiring if one chooses to save in fiat. pic.twitter.com/P5CjXg5v3e

— Sam Callahan (@samcallah) April 2, 2024

However, the argument loses merit when certain factors are pointed out. Yes, the Canadian dollars in your pocket lose purchasing power over time, and that’s why you can’t buy a house for the same price as your grandparents. Yet, you also will earn a lot more than your grandparents. If something used to cost a dollar and you earned ten per hour later costs five
dollars, yet you earn fifty per hour, there isn’t really a problem. Of course, that’s just the theory, and it does not always work that way in practice.

Wages keeping up with inflation

In Canada, for example, disposable personal income has tripled since 2001. It also increased in the last quarter of 2023 (the latest period for measurement). Have wages kept up with inflation? Not always; you might look at everything from the cost of a cup of coffee to your mortgage payments to consider that it hasn’t. But the problem is not fiat currency in and of itself. It is the balance between price rises and the amount of money you earn. From the period 2019-2022, average hourly wages grew 12.5% in Canada; CPI rose 10.1% in that time. There were accelerated periods of inflation, particularly in the aftermath of the pandemic, but on balance, wages kept up with inflation.

Now, none of this is meant to say that the fiat system is perfect, nor does it suggest that the government and central banks get it right on balancing the system. But broadly speaking, the antagonism toward fiat currency tends to be more sociological than economic. In short, people are angry at the system, not fiat currency itself. Those pushing the demise of fiat currency are often anti-establishment, at least ostensibly. They are interested in concepts like Bitcoin not only for financial reasons but also because it is not a creation of the state.

Their concerns do go into other areas, such as central bank digital currencies (CBDCs), and it leads them to see the fiat currency system as one of control. How valid are those concerns about CBDCs? We would be foolish to dismiss them, and there should be perhaps a sense of frustration that the mainstream media is broadly ignoring the threat. At the moment, the official line from Canada is that there are no plans for a CBDC – yet. However, and this is important – the BoC is apparently researching the “need” for one in the future.

What would that “need” be? Could it be the control of citizens’ finances? There is an all-too-scary suggestion that this could be the route that governments take, where fiat currency becomes less money and more like social credit. You drink or gamble too much? Well, the government will freeze the money in your account until you prove you are spending responsibly. If we go into a situation where fiat currency becomes a system of control, then inflation is the least of our worries.

For some, there is a sense of a tipping point on the horizon. We have this situation where governments are constantly printing money – and taking on huge amounts of debt – and we have the specter of CBDCs. You can, therefore, understand the allure of Bitcoin and other decentralized forms of currency, although those systems in themselves are not perfect. The
question, though, is whether we meet these challenges before the tipping point is reached?

Todayville Content Team

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Todayville Content Team works with a wide variety of clients to develop compelling content solutions. Our experienced team develops strategic campaigns that use video and storytelling, digital advertising and social media to help our clients position and distinguish themselves in the market.

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Strategic partnerships move fast, then stall for familiar reasons: scattered contracts, unclear change control, misaligned KPIs, and painful renewals. A modern virtual data room solves those execution gaps by giving both parties a single, secure workspace to negotiate and govern the relationship.

Below is a practical playbook for partnership for legal and governance teams that need better oversight of the process without slowing the deal.

Why partnerships fail in execution

Alliances now account for a rising share of growth activity, yet many underperform because governance and information flows break down after the signing ceremony. McKinsey has reported sustained growth in partnership activity and the need for rigor in how companies structure and manage complex partner portfolios.

Risk compounds as third parties plug deeper into your tech stack and customer data. KPMG’s recent third-party risk work highlights regulatory pressure and real breach exposure tied to vendor access — amplifying the need for disciplined data, access, and contract controls across the partner lifecycle.

What a VDR contributes that shared drives can’t

Virtual data room services outperform generic cloud folders in four partnership jobs-to-be-done:

A secure contract repository that centralizes master agreements, statements of work, schedules, and side letters, with version history and tamper-evident audit trails. This is foundational for obligations management and dispute resolution. Research shows that advanced contract lifecycle controls materially reduce missed obligations and improve risk visualization.
Permissioned partner access so each party sees only what they must. Granular, role-based permissions and watermarking help you share sensitive materials with confidence during escalations or executive reviews. HBR’s long-standing guidance on alliance scorecards underscores the value of clear information rights and accountability, which VDRs operationalize day to day.
Milestone tracking in VDR to link documents and discussions directly to the KPIs that define success — launch dates, enablement targets, marketing funds, or co-sell quotas — so status never lives in email threads.
Renewal and compliance files managed in one place for audits, certifications, cybersecurity questionnaires, privacy addenda, and regulatory notices. With regulators sharpening expectations on third-party oversight, having these artifacts organized and provable is no longer optional.

Selecting data room providers for partnerships

In the process of selecting data room providers, you should evaluate top vendors against your partnership-specific needs, not just M&A checklists. Here’s what to pay attention to:

Granular permissions that support external groups and expiring links.
Tasking and approvals to shepherd redlines, consent requests, and change orders.
API and SSO so you can sync with CRM and other tools.
Audit-quality logs and data residency options for regulated markets.
Structured dashboards for milestone tracking in VDR without exporting to slides.

If you’re comparing options, check out data room provider reviews at dataroom.org.uk page — a curated platform that evaluates the VDR providers. You’ll find it useful if you want your partnerships to run for years rather than weeks.

Designing the core folder architecture

Once you have a decent data room selected, you’re ready to think about folder architecture. Experienced teams use a common structure across deals so stakeholders can find the right file in seconds. A typical data room for partnerships includes:

Governance — charters, joint steering deck, RACI, escalation paths, meeting minutes.
Contracts — MSA, SOWs, pricing exhibits, data protection terms, change orders.
Delivery — technical specs, APIs, integration test evidence, rollout plans.
Commercials — business cases, rebate logic, MDF claims, sales playbooks.
Compliance & risk — SOC/ISO reports, penetration tests, DPIAs, DPA annexes.
Performance & KPIs — dashboards, QBR packs, remediation logs.
Renewal & amendments — redlines, approvals, countersigned documents.

Keep naming conventions strict (e.g., YYYY-MM-DD_DocumentName_Vx), and map folders to contract clauses so audits are traceable to obligations.

Access control that matches real-world roles

Partnerships span legal, finance, security, product, marketing, and sales on both sides. Use the VDR’s permission model to mirror this:

Internal core team: full read/write within governance, contracts, and delivery.
Partner core team: scoped access to execution materials, not internal approvals.
Executives and board: read-only to governance and KPI packs for QBRs.
Specialists (security, privacy, tax): time-boxed, watermark-protected access to specific subfolders.

This permissioned access keeps collaboration fluid while containing risk if membership changes mid-stream.

From diligence to day 2: Workflows that prevent drift

VDRs shine when you operationalize a few high-leverage workflows:

Vendor due diligence. Host questionnaires, evidence, and remediation in one trackable space. Thomson Reuters outlines the scope of effective vendor due diligence; your VDR should reflect that scope with structured folders, checklists, and deadlines.
Security events. Keep incident notifications, joint response notes, and root-cause analyses in the compliance area with restricted access.
Quarterly business reviews. Publish dashboards, opportunity lists, pipeline hygiene notes, and joint marketing calendars under a single Quarterly Business Review (QBR) folder — reducing prep time and increasing continuity across sponsors.

Contract intelligence that keeps money on the table

Money usually leaks in quiet ways: someone forgets to pay a rebate, prices don’t get updated, or a service promise keeps auto-renewing without anyone checking it. To stop that, you write down the most important details from each deal — like when it renews, how prices can change, what refunds are owed if something breaks, and when special rights end — and you keep those in one safe place everyone can see.

Then you set five important reminders in that same place:

When the deal is about to renew
When it’s time to review prices
When you need to check rebates after each quarter
When you need to make sure a broken promise got a credit
When “only we’re allowed to do this” ends

Each reminder should have one person in charge, a due date, and proof saved before anyone can say it’s done.

How to launch a partner VDR in 30 days

You don’t need a massive program to see value. In four weeks, you can stand up a partner-ready data room that legal, security, and sales will actually use:

Week 1 — Foundation. Confirm the folder taxonomy, map documents to contract clauses, and assign owners. Set baseline permissions and watermark settings.

Week 2 — Migration. Move authoritative versions only; archive duplicates. Create a secure contract repository and lock naming conventions.

Week 3 — Workflows. Configure diligence and change-control checklists, SLA tracking, and QBR templates. Enable alerts for renewals and audits.

Week 4 — Operate. Run a QBR using VDR dashboards, test guest invites with permissioned partner access, and review logs. Document playbooks for handoffs if needed.

Partnership pilot programs are forgiving; scale is not. As your partnership expands, decision rights blur, metrics drift, and files scatter. Your VDR should prevent that: one place for obligations, KPIs, and audits, all tied to owners and dates.

Don’t wait for a customer review or regulator to force the issue. Stand up the folder model, set renewal and control alerts, and use QBRs from the data room — not slides.

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It is no secret that life has become a lot more digital in recent times, particularly since the COVID-19 pandemic. People now do many activities online that they once did in person, which can provide a new level of convenience and accessibility for local communities. It has been fascinating to observe how these digital trends have reshaped modern life as we know it and given people the possibility to easily stay connected and entertained from home or on the move on a mobile device.

With this in mind, this post will explore a few of the biggest digital trends that local communities are embracing today.

1. Virtual Learning

One of the most notable trends that continues to grow each year is virtual learning. These days, people do not have to attend in-person courses and classes to earn qualifications or learn new skills, as they can engage in online learning. This can change people’s lives with the ability to advance their careers, start new careers, or simply expand their horizons without having to leave the house.

2. Online Shopping

Few things have changed life so much in the 21st century as the rise of ecommerce. It is hard to remember a time before when you could not get all of your shopping delivered to your home, offering greater convenience as well as the ability to shop from sellers all around the world. Since the pandemic, local communities are buying practically all of their needs online, including groceries, fashion, furniture, homeware, technology, and much more. Additionally, second-hand marketplaces have surged in popularity in recent times, allowing people to save money and find rare items.

3. Live Casino Games

Many local communities have turned to online casino games in recent times. This can provide the same thrill and excitement of going to a land-based casino with the convenience of playing from home or on the move. In recent years, online live casino games have taken off. These are games with a real-life dealer using streaming technology, helping to create a more realistic, engaging, and social experience. This includes live blackjack, roulette, and baccarat at popular online casinos where you can interact with dealers and other players via a live chat function. Casino games are often seen as a solo activity, but this is changing with the rise of live casino games.

4. Virtual Fitness

The way in which people exercise and stay in shape is also changing. Now, virtual PT sessions and exercise classes give people the ability to exercise and socialize without having to leave the house. This is ideal for those who crave social connection as part of their exercise regime but have busy schedules and/or live in remote areas. This has also extended to wellness in recent times with guided meditation sessions and virtual yoga classes, allowing people to look after their overall well-being from home.

These are a few of the main digital trends that have emerged in recent times and changed the way in which local communities lead their daily lives. It will be fascinating to see how these trends evolve and what new trends emerge in the years to come as life becomes increasingly digital.