it's literally crazy how so many of these gurus know so little about political economy. we've always had debt based financial systems even with commodity currencies. The exchange rate for countries were actually more stable in near term under Gold but when there was volatility you could easily see 30% moves which is too much for a currency system: check the lira in the 1990s, Franc in 2015, etc. And this is based on systems that tried to give the relative exchange parity that crypto people want (since they complain about inflation etc etc). The whole idea that debt is bad is so idiotic given that the global economy and national account balances operate in a quasi-zero sum environment. You always have countries that export more or import more. Cryptos will not change this just as the Euro didn't change the cost of adjustment between Greece and Germany. There are already loads of examples of countries with no Sovereign monetary policy: Hong Kong, Eurozone, etc. I love cryptos but this doomsday stuff is the reason why crypto suffers from a lack of mainstream adoption.