3 ms·

I've done this before in a few video games, hopefully things work better here than when I try it

Melting_Harps 6y ago
> I've done this before in a few video games, hopefully things work better here than when I try it I don't know why I found this so funny, given how prevalent seeing hyper-inflated currencies and countries get destroyed has become in my Lifetime. Its like I saw a 4 year old hitting the print trillions button on a Sim-City like game only to see a Game Over appear right away.
- deleted 6y ago
  [deleted]
- the_why_of_y 6y ago
  Prevalent? I've seen Zimbabwe and Venezuela, but maybe I'm too young. Certainly debt deflation is more prevalent in recent history. The US Fed has tripled the MB to fix last decade's financial crisis and inflation went down, not up. https://en.wikipedia.org/wiki/File:MB,_M1_and_M2_aggregates_from_1981_to_2012.png https://en.wikipedia.org/wiki/File:MB,_M1_and_M2_aggregates_...
  - Melting_Harps 6y ago
    Yes, prevalent, I do/did fintech and I'm now in my mid 30s. Here is just a number the one's off the top of my head spanning just the 8.5 years I've been doing it or been involved in that space. Libya, Somalia, Tunisia, Egypt, Venezuela, Ukraine, Argentina (several times), Brazil. I vaguely recall the days before the transition of the modern MX peso, because my family had property in Baja as a kid and I still remember seeing the obscene amount of zeros on their currency/prices and how much you'd get for just $50 USD, which to me was a lot of money back then. I remember being able to spend all day at an arcade in a mall or a corner shop for $10 and still be able buy chips and soda inside or a fried rice and an ice cream in the food court while my family got haircuts, massages, manicures, medical treatments or whatever took so long to do. The same with the peseta or lira in comparison to the Deutschmark, which was often used in a certain part of Spain, but I was a child and had no real grasp of economics beyond 'wow, that's a lot of numbers!' I incidentally had the same feeling vicariously when I was in the non Euro zone part of E. Europe and I paid someone with a child in CHF or EUR. Its odd how evocative those short encounters can be. Debt based deflation is merely a short term symptom, often of a reserve currency/SDR currency, but just look at how bad even some Western nations have gotten destroyed from the capital controls and other restrictions into the local economy after the Market and currency collapses as result of increasing the monetary base. Hell, even the Eurozone has its own perverse localized form of it, look at what happened to Greece in 2008--they were debating going back to the Drachma for a while and ultimately issued their own form of script/currency in the interim [1]because EUR became scarcer and austerity kept claiming victims after defaulting on the IMF loans. Or the rest of the PIIGS nations for that matter. Slovenia is another example of what happens to an economy that cannot maintain with the EUR inflationary practices by the ECB and distorts the local economy and market dynamics and abandons previously held practices that made them be able to adequately transition after the fall of Yugoslavia, as opposed to its other satellite nations which in the case of Croatia and Serbia led to war. It's really a matter of how deep you want to look at this, and to be honest, I sometimes wonder if I did some irreversible harm to myself and my psyche by living it and breathing for so long. But the truth is you see the best, and subsequently the worst, of Humanity in those situations and conditions so I have no real regrets as I lived a very rich Life so far as a result. 1: https://www.businessinsider.com/greece-local-currency-networks-2013-1?op=1 https://www.businessinsider.com/greece-local-currency-networ...

> I've done this before in a few video games, hopefully things work better here than when I try it I don't know why I found this so funny, given how prevalent seeing hyper-inflated currencies and countries get destroyed has become in my Lifetime. Its like I saw a 4 year old hitting the print trillions button on a Sim-City like game only to see a Game Over appear right away.

deleted 6y ago
[deleted]
the_why_of_y 6y ago
Prevalent? I've seen Zimbabwe and Venezuela, but maybe I'm too young. Certainly debt deflation is more prevalent in recent history. The US Fed has tripled the MB to fix last decade's financial crisis and inflation went down, not up. https://en.wikipedia.org/wiki/File:MB,_M1_and_M2_aggregates_from_1981_to_2012.png https://en.wikipedia.org/wiki/File:MB,_M1_and_M2_aggregates_...
- Melting_Harps 6y ago
  Yes, prevalent, I do/did fintech and I'm now in my mid 30s. Here is just a number the one's off the top of my head spanning just the 8.5 years I've been doing it or been involved in that space. Libya, Somalia, Tunisia, Egypt, Venezuela, Ukraine, Argentina (several times), Brazil. I vaguely recall the days before the transition of the modern MX peso, because my family had property in Baja as a kid and I still remember seeing the obscene amount of zeros on their currency/prices and how much you'd get for just $50 USD, which to me was a lot of money back then. I remember being able to spend all day at an arcade in a mall or a corner shop for $10 and still be able buy chips and soda inside or a fried rice and an ice cream in the food court while my family got haircuts, massages, manicures, medical treatments or whatever took so long to do. The same with the peseta or lira in comparison to the Deutschmark, which was often used in a certain part of Spain, but I was a child and had no real grasp of economics beyond 'wow, that's a lot of numbers!' I incidentally had the same feeling vicariously when I was in the non Euro zone part of E. Europe and I paid someone with a child in CHF or EUR. Its odd how evocative those short encounters can be. Debt based deflation is merely a short term symptom, often of a reserve currency/SDR currency, but just look at how bad even some Western nations have gotten destroyed from the capital controls and other restrictions into the local economy after the Market and currency collapses as result of increasing the monetary base. Hell, even the Eurozone has its own perverse localized form of it, look at what happened to Greece in 2008--they were debating going back to the Drachma for a while and ultimately issued their own form of script/currency in the interim [1]because EUR became scarcer and austerity kept claiming victims after defaulting on the IMF loans. Or the rest of the PIIGS nations for that matter. Slovenia is another example of what happens to an economy that cannot maintain with the EUR inflationary practices by the ECB and distorts the local economy and market dynamics and abandons previously held practices that made them be able to adequately transition after the fall of Yugoslavia, as opposed to its other satellite nations which in the case of Croatia and Serbia led to war. It's really a matter of how deep you want to look at this, and to be honest, I sometimes wonder if I did some irreversible harm to myself and my psyche by living it and breathing for so long. But the truth is you see the best, and subsequently the worst, of Humanity in those situations and conditions so I have no real regrets as I lived a very rich Life so far as a result. 1: https://www.businessinsider.com/greece-local-currency-networks-2013-1?op=1 https://www.businessinsider.com/greece-local-currency-networ...