this post was submitted on 19 Sep 2023
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Work Reform

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[–] Jake_Farm@sopuli.xyz 44 points 1 year ago* (last edited 1 year ago) (31 children)

That is something I wonder about. Inflation makes the poor poorer but when asked, economists are like "trust us, inflation is good".

[–] Cethin@lemmy.zip 20 points 1 year ago (27 children)

A small amount is good. Deflation makes it so not spending money is more beneficial. The longer you wait to spend the more the money is worth. This causes fewer products and services to be purchased, which pays for wages. Inflation makes the opposite true. The longer you wait to spend your money the less it's worth. It encourages spending, not saving. Inflation that outstrips increases to pay is obviously very bad though.

[–] nostradiel@lemmy.world -5 points 1 year ago (10 children)

Currency isn't worth a shit cause it ain't money. Money should be out of all stable saving of value. Gold is money, precious metals are money, diamonds are money. Currencies are worthless shit created to infinity by banks and hold together by enforcement of governments which are deep in debt to those bank so cannot do a fucking shit about that. All of our tax money goes straight to banks.

[–] Ulv@feddit.nu 7 points 1 year ago (1 children)

You try too pay for potatoes and pork with a krugerrand and tell me how that works out

[–] dynamo@lemm.ee 1 points 1 year ago (2 children)
[–] VinnieFarsheds@lemmy.world 5 points 1 year ago
[–] One_Honest_Dude@lemmy.world 4 points 1 year ago

They are gold coins minted in South Africa. One of the most popular coins for people who want to own gold.

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