Governments are ineffective. We've repeatedly seen what happens when governments take control of a sector of the economy: there's no competition, therefore no reason to act responsibly or accept any accountability.

Without responsibility or accountability, things go to hell in a handbasket.

Fiat currency only has value because the government says so.

It's not backed by anything tangible that can be found in the real world.

As a result, the government can print up fiat currency units seemingly without incurring any consequences, but disaster always strikes!