Most people don’t even know that man, they know that things are getting more “expensive” but they attribute it to corporate greed or other false explanations. Very few are aware of the fact that their momey is eroding. That’s part of the illusion that keeps it going.
Discussion
im not sure erosion is inherently compelling as a threat.
i once tried to invent a new kind of money and even called my econnomics phd friend about it in like 2012 and the central part of it was that it ~did~ rot, you couldnt hoard
like a store of potatoes for a season, it wasnt if some is good more is better
there was such a thing as too much and didnt get thru them all and now your potatoes are rotten and moldy in the cellar
Yes, money needs to be durable.
You might appreciate this letter I wrote a couple of years ago after my local mayor reached out and brought a bill that was concerning.
https://medium.com/@redtailhawk1923/vote-no-on-mo-hb-1165-32fb158c9689
I'll check it out after dinner.
Corporate greed is a genuine issue that is, in some ways, seperate from currency valuation. And it is still a contributing factor. Sure, there are some false explanations that circulate but those can be debunked with enough self-education... much like how many of my friends and family have done. You underestimate how many people are actually aware of the fact that their currency is getting continuously debased. Lol YOU ARE IN A BUBBLE. These people who are unaware may be a majority percentage, but i feel you believe like 95% of the global population remain oblivious.
Ask the average person on the street what backs the dollar. A majority of them will tell you gold.
I've asked plenty! Not on the street, but places that i visit. None know for certain and many just say that it "used to be backed by gold". Most just think that money is money and that we have to find a better one. Many are looking into the real estate and crypto market, atm. That almost always leads to them finding bitcoin. They are not oblivious to the fact that bitcoin has outpaced gold in the past five years. They observe very well. They're open to suggestions.
speaking of which, I saw this gold coin at the Perth Mint yesterday. 1012 kg 99.99% pure with a face value of $1M AUD, and gold value of ca. $200M AUD. By my rough calcs that is ca. $30 USD/oz face value. FDR would love it...then confiscate it. 