this post was submitted on 03 Jun 2023
3 points (100.0% liked)
Finance
2300 readers
1 users here now
Economic and financial news from around the world, including cryptocurrency and blockchain.
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
It is crazy to think that a loss of our moneys value is to be expected and normal. If we used a hard currency such as silver then "inflation" would not be a problem as govetnmyths could not print more at will and devalue the peoples holdings. Governmyth is totally to blame for poverty through taxes and inflation
Your "hard currency" is inherently deflationary. This may seem good to you since it means your dollar is worth more tomorrow than it is today, but the same is true for everyone else's dollars too. The net result is to discourage spending across the entire economy and that leads to much worst outcomes. There is a good reason that central banks aim for a small amount of inflation rather than zero or negative inflation.