From an interview with City AM:
I’m absolutely convinced that this system will collapse. Nobody can say when we will reach the endpoint, but I think in the next two to five years some big things will happen. That is a judgement call and needs to be distinguished from the fact that fully elastic fiat money is – on a conceptual level – suboptimal, inherently unstable and ultimately unsustainable.
Historically all paper money systems have collapsed. For 900 years they all ended in failure. There is either a voluntary return to commodity money, apolitical money that is not under government control (Britain in 1821, the US in 1879, the Ming dynasty in the fifteenth century), or you keep printing and ultimately suffer inflationary breakdown (US continentals in 1781, French assignats in 1803, German reichsmarks in 1923, and many others).