Oddbean new post about login | logout Is there any relationship between inflation and fiat redesign? As in new bills with new designs?
Seems like it mostly ‘anti-forging’ technology. Different materials, holograms etc
Average lifetime of any fiat currency is 27 years. After that the currency needs to be replaced or reformed as it has lost at least 50% of it's purchase power (by design) with 2% inflation p.a.
So about every generation. I’m sure there’s a power law that it follows.
Yes, it's called debt.
Well at the US dollar bills they have removed some words during the years 👀
They still need to remove the words "reserve currency"
I noticed here in Japan as the yen was weakest, they redesigned the currency.
Pretty sure that happened in Argentina... Or I think they just inflated the currency to the point of failure several times, so they had to make a new currency...
Yes, here are some of the mockups for the new EUR notes. https://image.nostr.build/4b52910f9ae6be84a285cbb129c07afe4d6518c5db8e7d61855dd84887627316.jpg https://image.nostr.build/d649eaf68f834954cfae2c01a660aa6166d3e6bc7273a45ee7c2c18cf2bf1575.jpg https://image.nostr.build/69acdbbb47445ee60946e2cc9c98a484e7c383dd0177917bbacd7974ce5d61cf.jpg
nostr:nevent1qvzqqqqqqypzqx78pgq53vlnzmdr8l3u38eru0n3438lnxqz0mr39wg9e5j0dfq3qqsqfkr2caw04ztv5arzwr4wt8ec0wqtweuq964qkqly3wcxd666gng5mtl0y With the average lifetime of any fiat currency being 27 years there is no way around replacing the currency or reforming it since it has lost at least 50% of it's value at 2% inflation p.a. So yes, new banknotes are a built-in feature for any currency since none of them is designed to succeed. https://image.nostr.build/f572316c9e55e0310f02664e63eeb5fb792dd6b96c792ba9c1538447bc424b25.jpg
Weak attempt at currency marketing bullshit. Like, yeah, our currency sucks, but it is newer now. Fresh coat of paint on a steaming turd.
Are the making the bills smaller while claiming they are worth the same amount?
