4 ms·
rampant inflation.
by conanbatt 14y ago
rampant inflation.
- XorNot 14y agoYou mean that 2-4% range with the Fed is legally mandated to keep it in, and has been wildly successful in doing so for the past 40 years?
- maxerickson 14y agoHow are you fitting the 1970s into that statement?
- XorNot 14y agoBy observing that the USD did not "collapse" despite it? Plenty of BitCoin people seem adamant the USD is definitely going to collapse, but can't explain why it hasn't already, or where the instability causing it too would come from, or why smaller, less wide-spread currencies don't do the same barring exceptional circumstances (i.e. Zimbabwe).
- maxerickson 14y agoI more meant the 2-4% range part. If you had said 30 years, fine. But inflation was (well) over 4% for much of the 10 years prior to 1983.
- conanbatt 14y agoI didnt say there was inflation, its just one of those things that can make people drop the US if it happened. US debt cannot increase indefinitely without consequence, and in a time of desperate need (such as the 2008 bailouts) it has to print lots of money and hence cause inflation. If the US dollar suffered 10% inflation 2 years in a row, it could originate some drastic changes, as dollar holders might want to get rid of the coin. Figure china selling out its entire dollar reservers in one year, US goes to the tank. Im not being alarmist, its just a possibility. Comparing Bitcoin to USD makes no sense at this stage in many ways, starting with volume.