Fiat is not only about the paper bills of exchange, but also the other paper promises such as statutory rights, privileges, benefits, etc.

empty promises can appear faster and be more extravagant on paper when backed by ever-increasing promises to pay. a promissory note is promise to pay - that is the fake credit system, and promises are more abundant than real deeds.

Fiat ruins everything; do you really understand what is Fiat?