There are just…I can’t even start with the sheer inanity of that quote.

First off, the First World War happened on the gold standard. Most currencies, notably the British Pound, didn’t become decoupled from gold until after WW1.

And those World Wars were enabled by technology, not fiat currency. Mass production of weaponry, rapid advancements in said weaponry, trains, fertilizer to grow more food to supply those front line…technology was far more of a driver than fractional reserve banking.

And decadence? Decadence! The Sun King would like to have a word with you about “decadence”.