alt Hacker NewsThe only problem of money is inflation. The ability of one single entity to print money at will, stealing from everybody else without them noticing is one of the greatest con jobs in the history of mankind (and we all know who has the master printer in the world)
Money is a beautiful instrument for trading and free markets, the only way for two entities to peacefully exchange goods. Inflate that money supply and you are silently stealing from the pockets of those who trust that instrument
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smitty1e • today at 12:16 AM
> The only problem of money is inflation.
Counterfeiting enters the chat.
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Inflation was a problem long before fiat money. It affected the Roman Empire whenever large amounts of gold were added to the money supply through conquests - in fact they understood this at some level because they usually kept it in the temple of Zeus, but in economic downturns they would raid this piggybank.
Another historical example is hyperinflation in Spain caused by the huge influx of silver from their central and South American conquests.