“Economic principles don’t change with the times. In 1788, Jefferson wrote, “Paper is poverty … it is only the ghost of money, and not money itself.”

It’s still true today.

In other words, Jefferson called it.

His foresight underscores the enduring danger of paper money and government excess, echoing through history’s economic crises.” https://goldseek.com/article/dangers-money-printing-thomas-jefferson-and-financial-panic-1819