Today, many signs suggest that the current version of the global financial system is breaking down once again. The combination of large sovereign debts after decades of deficit spending, increasing wealth concentration, and a shift from a unipolar to a multipolar world order, is putting a lot of pressure on various fiat currency systems.443 As wealth concentrates toward the top and as people begin to feel that the economic system is no longer working well for them, people tend to turn toward populism. It’s a cycle as old as civilization.
