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How to fix the economy (lemmy.world)
submitted 3 days ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works
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[-] Maggoty@lemmy.world 2 points 3 days ago

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.

[-] chicken@lemmy.dbzer0.com 1 points 2 days ago

They declared it was worth something like 5 old currency and you had to personally turn in old money to get new money

Then it's not just backed by their declaration

this post was submitted on 08 Feb 2025
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