I thought I'd give you guys update on the world of fiat currencies and which of them are getting hit the hardest and are falling the fastest to the bottomless grave of fiat currencies.
There has been over 1000's currencies since the creation of paper money in 1024 that have failed and today's currencies are no different. They are just on their way to failure!
Here is a list of the current fiat currencies in the world that have had 25% or more in inflation.
To put that in perspective for you it would be like you earning $100k a year, but then the next year that would only be worth $75k and bought you 25% less. Although salaries are up in most of these countries the increase in inflation and many times in government salaries adds more inflation as governments do not produce anything. They only take money from you!
With rising inflation which most people aren't even aware of people see it in the form of less and fewer groceries or food on their table for the same amount of money. People think that price gauging causes this by evil food store corporations or farmers, but it is the loss of purchasing power of their hard-earned national currency.
https://www.theguardian.com/lifeandstyle/2011/jul/17/bread-food-arab-spring
People always lose on this, and the elites win. The elites go into debt and buy income producing assets while the poor and middle class goes into debt to survive or buy things they cannot afford that depreciates.
The most significant causes for high inflation and hyperinflations of the last years come from oil-dependent countries and war-torn countries. The oil-dependent nations like Venezuela and South Sudan were very dependent on oil for income to the government. Venezuela had as much as 95% of their budget being oil royalties. That is insane, and when oil went from $120 a barrel to $40 and even as low as $29 they had some severe issues of loss of income, and they printed vast amounts of money.
With the war-torn countries, they use war to print more currency out of thin air. It is a great way to fund a war to use the states printing presses. But at one point the populace say enough is enough as they starve in the street and they find that the countries currency is worth 0. It was only their governments legal tender law that made it have value. As soon as the trust in that system is gone, the currency goes with it.
The actual current inflation using Bitcoin as an intermediary in Venezuela is not 6,147%, but 2,522,560%. That was from the 10:1 exchange rate between USD and Bolivares less than a year ago.
I want to mention India as well. When I use the same formula as above using Bitcoin the IND Rupee to USD is 13,628.30 while the official number is 65.18. With India's ban on cash, it shows how valuable cash to BTC might be in India with the BTC number being 20,866.15%.
Inflation is a lot higher than the official number, and people are feeling inflation everywhere when they buy food, go to school, rent an apartment or pay their phone or electricity bills. The government is telling us there is no inflation. The inflation is massive, and most of the new out of thin air M2 and M3 money created has ended up in Real Estate and Stocks and some Fine Art. While people believe they are becoming wealthy in Stocks or Real Estate it is just that their currency is a lot less worth.
Inflation will become more prominent around the world in the coming years as the gigantic M1, M2 and M3 Tsunami on currency will flood into the real markets, and monetary velocity will pick up creating mass rapid price rises like in Weimar Germany.
We have been played for years by the elites controlling the banking system using the out of thin air money to enrich themselves while the poor use highly overpriced credit card debt to buy things that mostly depreciate. The rich know how to use the flawed system to their advantage while the peasants are getting screwed over by having a low financial IQ and not knowing how money works.
It's all about education, and you can quickly educate yourself on how the basics of money work in less than a week :)
Take action and fight back by getting into cryptocurrencies and precious metals. Learn how to use debt to enrich yourself from the corrupt system and then use that money for good.
We will win keep on working hard and fight back, and the populace will finally see the truth about money and economics. For if not they will soon enough get a how money and economics work 101 event in the coming years.
Peace, Love and Voluntaryism,
John