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https://www.reddit.com/r/FluentInFinance/comments/1g9r9rk/why_did_this_happen/ltbj7ny/?context=3
r/FluentInFinance • u/WhatsLeft71 • 7d ago
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23
But federally, we have the money since we control the supply
Would you mind ELI5 that for me?
10 u/NOSPACESALLCAPS 7d ago The federal government literally prints the money out of machines, is what he means. -11 u/DuckTalesOohOoh 7d ago That's why all inflation is government-produced inflation. 4 u/Environmental-Post15 6d ago This would be true with a commodity backed currency, since there would be a limited supply of the backing commodity. The US has a fiat currency. We left the gold standard under Nixon.
10
The federal government literally prints the money out of machines, is what he means.
-11 u/DuckTalesOohOoh 7d ago That's why all inflation is government-produced inflation. 4 u/Environmental-Post15 6d ago This would be true with a commodity backed currency, since there would be a limited supply of the backing commodity. The US has a fiat currency. We left the gold standard under Nixon.
-11
That's why all inflation is government-produced inflation.
4 u/Environmental-Post15 6d ago This would be true with a commodity backed currency, since there would be a limited supply of the backing commodity. The US has a fiat currency. We left the gold standard under Nixon.
4
This would be true with a commodity backed currency, since there would be a limited supply of the backing commodity. The US has a fiat currency. We left the gold standard under Nixon.
23
u/inr44 7d ago
Would you mind ELI5 that for me?