Monopolies are dangerous and the way that we have adopted capitalism allows far too many of them.
Monopolies are to capitalism as totalitarianism is to democracy: they initially seem effective and even ’better’ but quickly move power to the few.
Take the dollar. no one in a souk of some under-developed country will ask you for euros or pounds. They ask for dollars.
This hegemony has been challenged not by traditional currencies, but by a made up batshit stupid currency called Bitcoin (and its spawn).
Bitcoin has made the world a more equitable place by enabling illegality. All because the Fed and the good people of the US (actually, strike good) are so greedy.
We should have five pegged currencies. Gold remains a contender, but the trouble is the main alternative currencies are drugs and oil, for which bitcoin and the dollar act as proxies.
Time for cowrie shells ?