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0 sats \ 1 reply \ @Leonard 23 Sep \ on: Price in USD and SATS of the basic food basket in Peru econ
Everywhere you go you can see the inflation in action even if is 1,2 or 3 country, the idea of explaining it in sats it’s ok for the “culture” but you can do this with all currencies except usd… things are bad everywhere
Something very noticeable when looking at the Charts is the false idea that has been stealthily planted in our brains 🧠 that good money is the dollar. In the USDPEN examples we see how we need more and more soles to obtain 1 USD and on the other hand we have the PENUSD showing how we acquire less and less dollars with 1 PEN. And it is something that we observe when we compare any other FIAT currency against the dollar. And then that leads us to the fact that the dollar has lost 98% of its value since its FIAT creation in 1971 when they broke with the gold standard, and if we go back to when it was created under the bimetallism standard in 1792 when it was first minted its value was the equivalent of an 8 Spanish Real. Then in 1900 we went solely to the gold standard, which was then set at 35 USD per Ounce in 1934 until the aforementioned joke of 1971 when they broke with that standard and set the new Fiat standard. And I say joke because former President Nixon used the word "Temporarily" in his speech 🤭 and since then it has been 53 years 🤣
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