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It's worth reading the Ray Dalio debt crisis book to see how this might end - the most likely scenario is the US, Japan, and EU all encountering cash flow problems in the next recession that they resolve by devaluing their currency. In that sense people have less money today than they believe. If all the major currencies and stock markets crash at the same time, there's no safe place for everyone to keep their money.

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A fixed or limited supply asset will hold its value against fiat currencies devaluing to some extent. Although it's likely that a scarce asset like gold/bitcoin is already artificially inflated by people who currently hold this belief.

If those people then liquidate their scarce asset in order to acquire more fiat currency after a devaluation then the market glut will devalue that scarce asset too to some extent.

And, of course, a devaluing would benefit people holding debt.

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