Obviously we differ. I consider the author's clear exposition on the meaning and significance of fiat currency very helpful for a lay reader. People should never forget that paper currency, today, is based strictly on confidence. Anything that disturbs or hurts it means implied devaluation, even if it doesn't show up in the charts. If you use accounting language, the Goodwill of US $ has gone from a positive value to negative. That will show its impact slowly as the world's Central Banks diversify their reserve holdings and more and more international contracts are written in non US $.
