The decision by governments around the world to inflate their currencies in order to fund government spending does threaten society as we know it. Nothing comes close to that threat, compared to it, everything pales. All the various "sky is falling fearmongering" is just that fearmongering.
But every time the world's currency has collapsed so has civilization. More than government, wars, or natural disasters, the inability to conduct trade has led to collapses in human civilization.
How do people who live in cities buy food without money? How do people pay for their energy without money? How do people pay their rent without money? In rural economies some level of bartering combined with the ability to burn local fuel sources and grow their own food provide the minimum good and services needed to live. But cities are doomed.
Doesn't matter whether your country is socialist, capitalist, hedonistic, religious, etc. If you can't conduct trade with currency, it is game over. Sadly, political leaders think mostly about retaining power. If your power comes from the poor, you think about how to redistribute income and wealth, if the wealthy are not forthcoming, you simply "print" money.
If your power comes from the middle class and they don't want you taking their money to fund government, you simply print money.
If your power comes from the wealthy and they don't want you touching their wealth, you simply print money.
Do you see a common theme. Unlike "hard" currencies which are inherently limited, "fiat currencies" are not. And now that politicians have figured out the problems, they create take time before the chickens come home to roost, they figure live for today, life is short.
At the end of the day and society depends on everyone producing goods and services and having the ability to efficiently trade those goods and services so they end up where they are most needed.
Capitalism inherently values each activity and good and then allows people to trade them. But to do so requires a currency.
Socialism requires someone "smarter than God" to figure out what needs to be produced and who should get it and how to coerce people to make stuff they don't get to trade. Talk about an impossible feat, no wonder it doesn't work.
So, by printing money we are destroying the only known economic system capable of supporting large urban populations. Major depression coming... because somebody decided they knew how to run a country better than "the market".
