RE: An open letter of thanks to central bankers for creating the world's shittiest currencies
USD currency devaluation has been happening ever since the gold standard was dropped. Since then, the federal reserve simply prints more imaginary paper money at their whims, which causes the value of everyone's paper money to decrease.
Most people do not realize that the real reason a loaf of bread cost nickel 40 years ago and is now $3 is not because prices have gone up, but because the value of their money has gone down.
Extreme examples of currency devaluation are sometimes called hyperinflation. The worst case of this happened in Hungary in 1946 after the end of WW2 where the prices of goods were doubling every 15 hours . By August of 1946, total of all Hungarian bank notes still in circulation was only equal to 1/10 of a US penny.
If people believe that this could not happen here, they are wrong. There's only so much the Federal Reserve can use that printing press before the USD is dumped as the World Reserve Currency. In fact, the effort to replace it is already underway. I feel sorry for my parents who played it safe their whole lives and put their paper dollars into the bank so that they could earn 1% interest on it, even as it lost 3% in value a year due to devaluation.
What an incredible state of affairs. In the words of Cicero “A nation can survive its fools, and even the ambitious. But it cannot survive treason from within."
yes great quote @realmsofcrypto ) here it is in full !!
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.”
Marcus Tullius Cicero
You absolutely nailed it. Love to see people informed and spreading the truth