It doesn’t matter if it is fiat or not necessarily. But if I told you your money was going to be worth half tomorrow, then half again the next every day for the next 16 weeks… You would think shit… Maybe there is a better way to do this. That has happened to millions of people across several countries. They didn’t wake up one day and choose it, but poof gone. Your entire life turned to nothing because we are using currency that isn’t based on anything but a government that can collapse. Universal currencys not run by local governments could help prevent such.
The thing is, large countries that don’t have these problems currently, are the ones with power to change that… and would never vote to change it, because it could help poorer countries create stability and grow over time, which makes them not so much less than the big countries who want to be able to take advantage of those countries when they wish for their advantage.
First of all, hyperinflation hasn’t been an issue in any modern economy for decades. We understand more about monetary policy than we did in the 1930s.
Secondly, economic crises did happen prior to Bretton Woods. In fact, they tended to be more common, and more severe.
Finally, it is not obvious at all that “universal currencys (sic) not run by local governments” could do better, especially given our experience with cryptocurrencies, all of which are extremely volatile and not suitable as a currency for that and various other reasons.
It doesn’t matter if it is fiat or not necessarily. But if I told you your money was going to be worth half tomorrow, then half again the next every day for the next 16 weeks… You would think shit… Maybe there is a better way to do this. That has happened to millions of people across several countries. They didn’t wake up one day and choose it, but poof gone. Your entire life turned to nothing because we are using currency that isn’t based on anything but a government that can collapse. Universal currencys not run by local governments could help prevent such.
The thing is, large countries that don’t have these problems currently, are the ones with power to change that… and would never vote to change it, because it could help poorer countries create stability and grow over time, which makes them not so much less than the big countries who want to be able to take advantage of those countries when they wish for their advantage.
First of all, hyperinflation hasn’t been an issue in any modern economy for decades. We understand more about monetary policy than we did in the 1930s.
Secondly, economic crises did happen prior to Bretton Woods. In fact, they tended to be more common, and more severe.
Finally, it is not obvious at all that “universal currencys (sic) not run by local governments” could do better, especially given our experience with cryptocurrencies, all of which are extremely volatile and not suitable as a currency for that and various other reasons.