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Fiat certainly isn't helping, that's for sure!
It is nice to be able to blame such a good villain for almost everything, but, alas, it is the people doing the isht and not just the fiat. The fiat currencies are just tools for f*ckery.
The people would not be able to do the shit without the fiat.
I meant to say the people are employing the fiat to do their thieving. The fiat, by itself, is just like a pen, a stick, a knife or a firearm, just a tool. It is the human behind them that is the danger.
The mere existence of fiat is evil because money is absolutely necessary for society to function. The monopolization over the money production (fiat) automatically distorts incentives for every human that uses it.
Sticks, guns, and pens are just tools that are not necessary for society to function.
The largest impact to climate and global ecosystems is fiat currency.
When the money supply is infinite, the natural result is infinite consumption which has devastating effects on all of the natural resources that we consume.
In short, the amount of debt that people have is a measurement of how much future resources we have consumed ahead of time.