Evan on Nostr: In spring 2020, I bought dozens of $10 trillion Zimbabwe notes and gave them away to ...

In spring 2020, I bought dozens of $10 trillion Zimbabwe notes and gave them away to friends - hoping to teach them about the perils of fiat. Today, those notes are up over 400% on eBay and a far better store of value than the dollar.

I remember Trump, Mnuchin, J-Pow, Kashkari, et al diluting/deleting dollar holders' purchasing power back then and will never forgive them.

Inflation is theft.

quoting
nevent1q…d4ap

On this Elon/Trump talk, Trump just said “we would have no inflation” if not for Biden. This is false.

I think it’s important to clarify that there *was* massive inflation during Trump’s administration.

From January 2017 to January 2021, the M2 money supply increased from ~$13.3 trillion to ~$19.4 trillion by January 2021.

That’s an INFLATION of ~$6.1 trillion, or ~45%.

There is a LAG between monetary inflation and general price increases throughout the economy, and price increases do not happen uniformly (look up the Cantillon Effect).

To clarify for the partisans out there: this is NOT an attempt to make excuses for Biden or to say that the monetary and fiscal policies under Biden are good; they are not good.

The point is that it is false to say “there was no inflation” under Trump.

Monetary inflation *is* inflation.