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Replying to Avatar AC

Today is the 54th anniversary of the abolishment of the gold standard when Nixon officially turned the USD into worthless pieces of paper. Considering the average lifespan of fiat is 40 years the $ is doing quite well if you ignore it's 97% decline in value since the creation of the federal reserve.

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ZambiaRoots 5mo ago

Averages are not very useful when presented without other parameters (variance, skew, etc... ). What is rhe longest any fiat has ever stayed around?

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