It works until it doesn't....but it is unknowable when that happens.
We don't know when, but we know what will happen. As usual, they will announce that a global universal crisis has come, the efforts of the whole nation must be made in order to overcome it. The rich will become richer, the poor will become poorer. And everything will continue as it was before.
Fiat currencies are good for governments in that you don't really have to answer to anyone for devaluation. It is enough to make a few populist statements. It's great, right?!

If you are not a government, then it is better to stock up on bitcoins in your wallet in advance. So, just in case.
