Oddbean new post about login | logout A savings account in dollars is a terrible financial decision. Not because savings is bad, very much the opposite is true, but because dollars are terrible money.
I feel bad for all of the parents that don’t know any better and start savings accounts for their newborns/toddlers for when they are older. Good luck on that one…
They should be called "loosing accounts"...
haha that's a great meme actually! "you have a savings account? Cool you own bitcoin?" "no its just with my bank" "ah you have a *losing* account, not a savings account." 🤣
Saving value in dollars is like saving water in a funnel. nostr:note1kxemle020l3nyredc3gpwjd4urxk2yeysa007cxk622v84dy0lkqf6y38r
I don't know anyone who has a fiat savings account though. I mean, I know it's a thing. When I withdraw money from my ATM, for example, it asks, "Checking or Savings?" But I don't recall ever meeting anyone who's used a savings account. For no-coiners, excess capital just goes into stocks and real estate and treasuries. Or for us, Bitcoin. But fiat savings? I just don't see that too often, do you?
If dollar is bad what does it make other currencies? 😂😅🤦♂️
The dollar is just the best option in a big pile of rotten garbage.
I recall fr whnan year of college (2002) reading walter e Williams articles and other economists, listening to rush about federal spending, etc, thinking, why did we get off the golf standard? why fiat money that they can just print? I went thru my 20s and 30s with that low level anxiety, knowing they're just printing money. bought a little in 2016-2017. lil more in the next few years. then I read the Blocksize War before this year, and anxiety receded
