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'Who holds lifetime savings in cash? That would be a terrible idea' Everyone is forced to speculate because the fiat currency is no longer a reasonable store o
by landemva 5y ago
'Who holds lifetime savings in cash? That would be a terrible idea'
Everyone is forced to speculate because the fiat currency is no longer a reasonable store of value.
The poorest, who have no investments, typically do the worst through inflationary years.
- ChrisLomont 5y agoThe poorest tend to have loans, car, mortgage, etc. and no significant cash, so inflation helps them by lowering their effective debt. Fiat has never been a good store of wealth, ever, in any country, in any time. Nothing there has changed, despite your beliefs. And pretty much no one with much long term savings keeps it all in cash, there's too many better places to save.