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There's an easy way to avoid being harmed by inflation: Don't hold cash. If you wish the currency was backed by gold so you could put it in a teapot, buy gold w
by natrius 17y ago
There's an easy way to avoid being harmed by inflation: Don't hold cash. If you wish the currency was backed by gold so you could put it in a teapot, buy gold with your fiat money and put it in a teapot.
An economy in which the primary currency of trade can deflate sucks. We've been there.
- acg 17y agoI wasn't advocating holding money in a teapot, just that erosion of wealth is built into the system. I was not also advocating the gold standard, just saying there are other dimensions why some professions have not attracted money. To reduce wages salaries just need to be static.