Listening to a podcast about a wine scandal that happened in Italy in 1986.

People bought wine for 1800 Italian Liras, which, according to the host, is about 2€ at today’s price levels.

However, in 2002, when the Euro was born, 1€ = 1927.36 Italian Liras. What does it mean? That in 20 years the Euro has lost more than half of its purchasing power.

How do you call this?

#bitcoin

#inflation

#podcast