I asked @perplexity_ai who benefits most from reserves being backed by fiat: Fiat currency systems disproportionately benefit large financial institutions, governments, and asset-owning elites through seigniorage profits, monetary policy leverage, and wealth preservation
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I asked @perplexity_ai who benefits most from reserves being backed by fiat: Fiat currency systems disproportionately benefit large financial institutions, governments, and asset-owning elites through seigniorage profits, monetary policy leverage, and wealth preservation