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The key term there is "a year's time". That's generally true for most fiat money in stable countries, but it becomes an absolutely terrible store of value for
by anonporridge 5y ago
The key term there is "a year's time".
That's generally true for most fiat money in stable countries, but it becomes an absolutely terrible store of value for anything longer than a few years.
- gonzo41 5y agoThat's why most money kept with banks is kept in interest bearing accounts to at least keep up with inflation (obviously things have been a bit off kilter since the GFC and covid). Or that pound quickly moves into circulation.
- deleted 5y ago[deleted]