Dictionary definitions prior to the Federal reserve act show inflation is expansion of the monetary base.   Since then politics eclipsed economics and we believe anything is possible, fundamentals  matter less then what we perceive hence prices are inflation now though that too has changed so we dont have any common reference over decades.
   We cant have peak FIAT occurring now if we arent fully committed to the castle in the sky, its real I can touch it and it'll probably fall or change significantly.   Imo its going to occur in my lifetime because the story started decades ago so its not some avant guarde prediction to expect an accumulation in effects that cause change.


If someone can dig out an ancient text book and look it up that'd work too.