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Sachin | 5 months ago (raw) | root | parent | reply | flag +1 
 I suppose base money (m0) can be fixed.

Broader money (m1, m2 and m3) I think cannot be fixed. I don't think they need to or should be either.
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Hazey | 5 months ago (raw) | root | parent | reply | flag +1 
 Fiat is broken by design
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Sachin | 5 months ago (raw) | root | parent | reply | flag 
 Fiat is broken yes, but we'll still have broader money in the form of credit and IOU's on a Bitcoin standard
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Hazey | 5 months ago (raw) | root | parent | reply | flag +1 
 Not mortgages and credit cards and car payments. Earlier generations (in America at least) did not need them when the money was less inflationary.
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Sachin | 5 months ago (raw) | root | parent | reply | flag +1 
 If I'm not wrong, you're saying the quality of credit instruments will improve. 

If so, I agree with that.

India is a savings-driven economy for the most part, as hard assets are the norm here. But the proliferation of fiat money is putting people who stick to hard assets at a disadvantage without them even realising it.

Fiat money has to be abolished, else we are fucked.