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"What a strawman." -@wcarron Below is a list of 590+ failed fiat currencies, 150 caused by hyperinflation. Seems the Straw Man argument is yours alone. htt

"What a strawman." -@wcarron Below is a list of 590+ failed fiat currencies, 150 caused by hyperinflation. Seems the Straw Man argument is yours alone. https://trader2trader.co/tag/historic-graphs/page/3/ https://trader2trader.co/tag/historic-graphs/page/3/

compcoffee 8y ago
>Below is a list of 590+ failed fiat currencies Below is a list 1000+ cryptocurrencies, 99.9% of which no one has heard of, many of which have lost 90%+ of their value in a matter of months. https://coinmarketcap.com/all/views/all/ https://coinmarketcap.com/all/views/all/
- ehrtt 8y ago
  If no one has even heard of them, how could their prices possibly matter to anyone.
wcarron 8y ago
This is hardly worth dignifying with an answer, but I will anyway. Your original premise was that the dollar has lost enormous value since 1913. Strongly implicating the inflation is a measure by which you can measure whether or not a currency is "failed". This is false. A dollar or any unit of currency is an arbitrary symbol of a certain amount of worth. Inflation does mean that the spending power of a currency decreases. No argument there. But guess what! Wages increase(d) relatively in line with inflation. If a snickers bar used to be $1 when the average salary was $10000; and now it's $2 when the average salary is $20000, then the actual cost of a Snickers bar has not changed, in simplified terms. I see no problem here. It also intuitively makes sense, that as the population of capital producing workers grows, so too does the GDP. These people need currency issued, too, otherwise, the currency would be deflationary. So new currency is issued to prevent deflation (just 1 example of why it's issued) and keep the currency in circulation in line with production. > 150 caused by hyperinflation. Like, for example, the Bolivar? or the Mark? That's actual hyperinflation. ~2% inflation YoY doesn't mean hyperinflation. This is Econ 101.

compcoffee 8y ago

>Below is a list of 590+ failed fiat currencies Below is a list 1000+ cryptocurrencies, 99.9% of which no one has heard of, many of which have lost 90%+ of their value in a matter of months. https://coinmarketcap.com/all/views/all/ https://coinmarketcap.com/all/views/all/

ehrtt 8y ago
If no one has even heard of them, how could their prices possibly matter to anyone.

wcarron 8y ago

This is hardly worth dignifying with an answer, but I will anyway. Your original premise was that the dollar has lost enormous value since 1913. Strongly implicating the inflation is a measure by which you can measure whether or not a currency is "failed". This is false. A dollar or any unit of currency is an arbitrary symbol of a certain amount of worth. Inflation does mean that the spending power of a currency decreases. No argument there. But guess what! Wages increase(d) relatively in line with inflation. If a snickers bar used to be $1 when the average salary was $10000; and now it's $2 when the average salary is $20000, then the actual cost of a Snickers bar has not changed, in simplified terms. I see no problem here. It also intuitively makes sense, that as the population of capital producing workers grows, so too does the GDP. These people need currency issued, too, otherwise, the currency would be deflationary. So new currency is issued to prevent deflation (just 1 example of why it's issued) and keep the currency in circulation in line with production. > 150 caused by hyperinflation. Like, for example, the Bolivar? or the Mark? That's actual hyperinflation. ~2% inflation YoY doesn't mean hyperinflation. This is Econ 101.