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It would certainly place a burden on monetary normalization that would fall on the productive sector.
Any time any state does anything, it falls on the productive sector. The state is a parasite. The state never produces, it only consumes life, blood and treasure.
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Without the state there is no law and order. Nor is there any protection from external forces who would otherwise seize the wealth and assets of citizens. The wealth of nations is largely dependent upon the power projection of the nation state. Humans alone are frail and vulnerable- this is why they form groups in order to gain control over territory and resources. Libertarians live in a naive simplistic and incomplete worldview where these realities are ignored.
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