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Replying to Avatar Aqueous

Imagine if you were a builder and before you start work each day, you need to check with the Board of Weights and Measurements to make sure they hadn't lengthened or shortened the distance of an inch. Maybe on a given day, the Board increases the length of an inch by .25%, so for that day's construction activity, you'll need to use your old measuring tape, then adjust the measurement by all increases and decreases that the Board had issued since you bought the tape measure. Obviously, that's absurd way to build because an unchangeable unit of measurement is essential to buidling. It's absurd to use a unit of measurement that is constant changing, but that is how value is measured these days, in fiat currency.

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Aqueous 2y ago

Why would a Board of Weights and Measurements do that? To maintain price stability, i.e., to maintain the price per square foot at a constant level. Absurd? Yes, but isn't that what the Federal Reserve is doing?

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