JimmyGT on Nostr: If you use a savings account to save your money, you're losing massive amounts of ...
If you use a savings account to save your money, you're losing massive amounts of purchasing power over time due to currency debasement. When the currency is debased, people are incentivized to spend their money quickly, instead of saving it, because it is guaranteed to buy less in the future. Saving simply does not make sense in this kind of environment. This is a major psychological driver of our consumer-based economy.
Published at
2023-08-22 18:54:47Event JSON
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"content": "If you use a savings account to save your money, you're losing massive amounts of purchasing power over time due to currency debasement. When the currency is debased, people are incentivized to spend their money quickly, instead of saving it, because it is guaranteed to buy less in the future. Saving simply does not make sense in this kind of environment. This is a major psychological driver of our consumer-based economy.",
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