450
How to fix the economy
(lemmy.world)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 08 Feb 2025
450 points (100.0% liked)
Curated Tumblr
4269 readers
9 users here now
For preserving the least toxic and most culturally relevant Tumblr heritage posts.
The best transcribed post each week will be pinned and receive a random bitmap of a trophy superimposed with the author's username and a personalized message. Here are some OCR tools to assist you in your endeavors:
-
FOSS Android Recs per u/m_f@discuss.online: 1 , 2
Don't be mean. I promise to do my best to judge that fairly.
founded 2 years ago
MODERATORS
The problem here is that a government does not in fact have the ability to decide how much their currency is valued, they can only indirectly influence it. When they try to pretend like it's just a "rule" they can set like "here is the mandated exchange rate, we'll put you in jail if you make trades at any other price" is when things get real stupid.
India made a run at wealth hoarding by issuing a new currency. They declared it was worth something like 5 old currency and you had to personally turn in old money to get new money. You couldn't just digital it.
I have no clue how well that did or didn't work but they haven't imploded yet. So there's a lot more play in this money thing than the finance industry would like us to believe.
Then it's not just backed by their declaration