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If the USD was really unstable because of printing, its value compared with the NZD (which hasn't had such printing) would have collapsed. Before covid it was
by iso1631 6y ago
If the USD was really unstable because of printing, its value compared with the NZD (which hasn't had such printing) would have collapsed.
Before covid it was 1.6 NZ to the US, now it's about 1.4 - so a loss of about 10%. If you had 1600 NZD in 2019 and bought USD, kept it under the matress, and sold it, you'd have lost NZD200.
That's not great, but it's a similar range of NZD vs AUD, NZD vs CHF, CHF vs USD, etc.
Now if you had 1600BTC in 2019 and bought USD, well that's tricky -- when in 2019?
In Jan 2019 it was about 3500, by May 2019 it was about 5000 USD to the BTC, in June it was about 10,000, it fluctuated by about 20% over summer, dropped back to 7,000 in December. It stayed in that whole 7k-14k range until November 2020 when it ballooned upto about 60k over the next few months.
In the last couple of years, gold has gone from about 1200 to 1700, 40% change in the last 2 years. Silver about 30%. Other currencies that haven't had printing about 20% fluctuation. Rice about 20%, Wheat about 40%, Soy about 50% - those comodities do fluctuate a fair bit over long time though.
Bitcoin has increased around 1,000%. That's so far out from EVERYTHING ELSE that it isn't currencies shifting, it's crypto.