"Is it possible to get out of this vicious circle?"
It is always possible to be out of something you never get in. I am prepared and acting to step away from money completely. I am not decrying money, so much as averse to the very complete control very bad actors have over the financial system. Silver coins issued by a trusted entity can be physically examined, weighed, and known to be of a given value. You can defend them with your might and main. Debt coupons borrowed at interest by governments and refunded through taxation absolutely are a vector for fraud, and I have been dodging fiat after several times being defrauded and courts having provided no relief, nor recourse. Criminal justice is well named so.
When it comes to programmable digital currencies, and cryptocurrencies that can be made worthless instantly by simply censoring data on a network controlled by legacy financial entities, I cannot have any confidence my wealth can be secured by that currency. In fact, there is no capability innate to CBDCs that cannot be imbued into the network itself to have the same effect on BTC, Hive, or any cryptocurrency. Most people have not grasped these facts, and many hold these high risk assets that utterly depend on trusting the least trustworthy entities that exist.
I will not depend on such entities again. I am old. It was difficult starting over after I had prepared my retirement and had everything I owned stolen from me by fraud. I doubt I could be restored to my current felicity should such a thing happen again. Until you walk away from your life's work in borrowed socks it is difficult to conceive of the devastating effect it has on you. I hope you never do.
I never will again. The world is run by criminals, and I can not trust them. All title to property most consider wealth depends on their goodwill. What can you do to guard your property and wealth from Citi if they practice fraud? They can buy the judge, and even your lawyers. I store my wealth as goodwill in the hearts of my friends, neighbors, and community, with honest and good people, where it cannot be stolen, taxed, or inflated away. With care and planning I may soon be able to eschew all currency and arrange for goodwill to cover such unavoidable expenses as cannot be avoided. I am uninterested in extravagant wealth, in speculative growth, or compounding usury. I am a simple man, with simple needs, and more than any coin of the realm I care about the love and respect of the good people I care about, and serve as I am able.
This is enough for me for all my days.
Thanks!
There is no ‘trusted entity’ @valued-customer. That is the reason Bitcoin was made.
You have a point, which a cursory consideration of the debasement of Roman currency reveals. However, there are verifiable coinings that can serve, because they are purchased and aren't forced on us by governments, and won't sell if they're not what they are said to be.