RE: DID OUR "WORLD LEADERS" JUST PUSH GLOBAL RECESSION AWAY from our doorsteps?

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RE: DID OUR "WORLD LEADERS" JUST PUSH GLOBAL RECESSION AWAY from our doorsteps?

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jadams2k18 (64)in #economy • 5 years ago

Hello my dear friend

I am not an expert in finance (as I have always told you) but from my own experience, printing more currency is not the solution and as an example the situation in which I live every day. Printing more coins causes inflation and devaluates the currency, so much so that they had to create a new currency (El bolívar fuerte, BsF) that also devalued over time and again created another currency (El bolívar soberano, BsS) that lately has fallen quite low. And they continue creating more denomination, now they printed bills of 10 thousand, 20 thousand and 50 thousand of the last currency as a means to solve the economic crisis. Aren't we going back to the same thing? It seems that they expect to obtain new results executing the same solution as always (printing more coins).

Stay in touch 😊

5 years ago in #economy by jadams2k18 (64)

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flash07 (63) 5 years ago

Agree with you my friend @jadams2k18.

Printing more coins causes inflation and devaluates the currency, so much so that they had to create a new currency (El bolívar fuerte, BsF) that also devalued over time and again created another currency (El bolívar soberano, BsS) that lately has fallen quite low. And they continue creating more denomination, now they printed bills of 10 thousand, 20 thousand and 50 thousand of the last currency as a means to solve the economic crisis. Aren't we going back to the same thing? It seems that they expect to obtain new results executing the same solution as always (printing more coins).

Same thing repeating over and over even after looking into what happened to Zimbabwe.

When Zimbabwe was hit by hyperinflation, in 2008, prices rose as much as 231,000,000% in a single year. Imagine, a sweet which cost one Zimbabwe dollar before the inflation would have cost 231m Zimbabwean dollars a year later.

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jadams2k18 (64) 5 years ago

Hello, again @flash07!

The same thing was happening as in Germany after World War I. Where children played with packages of bills whose value was negligible. Those of us who do not keep an eye on the past tend to repeat it. That's why today I'm interested in learning universal history. 😉

Thanks for passing by 😄

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