The case for sound money
Over the course of history, trust in fiat currency has most often been weakened by erratic and high inflation, and shattered after episodes of hyperinflation
The debate around the recent demonetization of high-denomination currency notes has once again reopened an old debate. Does demonetization threaten the trust that people have in the legal tender? This is, in reality, a deeper systemic question that has little to do with demonetization specifically but has to do much more broadly with the faith we do, or do not have, in fiat currency.