4 ms·
Fiat money implies inflation. Or you are so naive to think that there is no US dollar devaluation?
by diegofr 14y ago
Fiat money implies inflation. Or you are so naive to think that there is no US dollar devaluation?
- JumpCrisscross 14y agoI'm Swiss and respectfully disagree.
- ef4 14y agoThe Swiss national bank has intervened repeatedly over the last year to devalue the franc. They do it for the same mercantilist reason that China does it: to subsidize export industries. So even though Swiss consumers may not be seeing nominal price inflation, they are most definitely paying higher prices than they would have otherwise been paying if the SNB really maintained a hard currency.
- JumpCrisscross 14y agoI'm disagreeing that fiat money = inflation. The Swiss franc and price levels are stable thanks to intervention - else we'd be seeing debilitating deflation.