You are viewing a single comment's thread from:

RE: Why do we taxes when money comes from thin air? 🤔

in #inleo8 months ago (edited)

I am talking about America where the FED was created, google says inflation in the US was an average of 0.3% between 1790 and 1913. The US dollar being the reserve currency today is the one the rest follow so it's the one I focused on. I edited the post to say "There was no inflation in the US before the FED, can you imagine that?"

The Spanish thing in the 1500s happened because Spain brought in lots of gold and silver to Europe and they increased their money supply that was backed with those metals, not debt. As more currency circulated and its population remained consistent, its currency value decreased compared to goods leading to a rise in prices. It's inflation but for very different reasons.