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The ability of money to increase in purchasing power over time has been made impossible due to the fact that central banks have a baked in inflation target that they use to create price stability.

The idea that saving money is bad has led to this policy.

https://tftc.io/martys-bent/higher-savings-are-good-for-economy/

nobody 2y ago

One thing that I find amazing was that between the year the US constitution was written in 1787 and the year 1913, although there were periods of inflation and deflation within, the purchasing power of the US dollar stayed roughly the same during this 126 year time period.

We were effectively on a gold standard during that time, but then something changed.

#WhatHappenedIn1913

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CensorThis 2y ago

1913, the fed.

1971, Nixon.