Summary of key points:

• The case against fiat is an ethical case, much more than an effectiveness case. Crytpo advocates often misunderstand this.

* The primary reason fiat succeeds is it offers price stability. But stability is often purchased at the expense of workers and the unemployed.

* The management of fiat provides state actors with incredibly powerful, ultimately discretionary, tools which significantly affect who wins and who loses and how equal or unequal a society is.

(Edit 1: Based on the presentation's concluding "summary" slides. Edit 2: Removed the point about war as less germane.)