Money without POW is just pieces of paper. If you think that free money will solve problem try and buy something with monopoly money (the board game).
Money must take effort to produce. Like gold is mined and requires highly skilled equipment and labour to extract. It cost roughly $1400 per ounce to mine.
Bitcion is the same. It costs around $1000 to mine.
Nothing that us worth anything is freely and widely available.
Maybe I did not understand you correctly. Let me know if you don't agree.
Well, in practice, fiduciary money should not have any problem, in fact, I think it is a good model, the problem is that there are a set of dishonest mechanisms made by state agencies, or at the expense of it, which make the system fails, such as Fractional Reserve Banking.
Damn, don't know how I missed it. It was in reply to @erh.germany post. Sorry for the confusion.
lol... although I can't tell you that I don't suspect at some point.
It was a relatively long comment, you should answer him anyway.