When politicians create fiat money, at will, out of thin air, it means the citizens of that country effectively lose their freedom to object to war. If a government must sell war bonds and/or rsise taxes to fund a war, the citizenry will only support it (and buy the bonds, and comply with the tax hikes) if that war poses an existential threat to those people, themselves.

With fiat, governments are incentivized to print money and funnel it into "causes" (whether these causes are righteous or not is beside the point), in order to fund the corporations, lobbyists, super PACs, war industry, etc, who will keep those politicians in power.

The incentives are simply broken.

















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