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I think there are significant differences between the two events, with the major similarity being “there is a large change in regulation regarding how ordinary
by bitmasher9 1y ago
I think there are significant differences between the two events, with the major similarity being “there is a large change in regulation regarding how ordinary people handle money.”
In 1933 the major goal was to force ordinary citizens to trade their gold for cash, and then inflate the cash. That is why it became legal to hold gold again in 1975, the dollar value became disconnected from gold.
In modern Europe I don’t see the same rug-pull and a digital euro will continue to be just as valuable as a physical one. There are other valid concerns for going digital-only with currency.
- LunaSea 1y agoThis situations are not identical but if you, as a citizen, can't exchange virtual currency for some kind of token that represents the same amount of money in that currency then you are at the mercy of the banking system. In my eyes, it also lowers the value and trust of said currency because it means that the system isn't able to fulfil IOUs.