Replying to Avatar jimmysong

I have lived my whole life in a fiat money world. So has everyone under 52.
e7
nobody 2y ago

Interesting fact. From the Revolutionary War to 1933 the value of the US dollar was basically a unchanged. You could truthfully say 1USD = 1USD.

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e7
nobody 2y ago

Although there were short individual time periods where the USD had purchasing power volatility, over the long term (late 1700s to 1933) the purchasing power of the USD stayed roughly the same.