Oddbean

"When our financial system severed the ties between **"fiat currency"** and **"gold"** in the 20th century, it meant that money production no longer needed to be backed by gold. This resulted in fiat currency being questioned as a good store of value. https://i.nostr.build/9Y5MkCLyz24uzByo.jpg Today, the answer is clear... Money sitting in our banks erodes every day. The interest rate received cannot keep up with inflation. Each year, the slight increase in our account balance buys less and less. Saving money has become a foolish act. What impact does this have on society's psychological perspective? The answer is the opposite of what's beneficial. The world has entered an era where **"savers"** are penalized, leading to widespread **"poverty".** Those who save only become poorer as their savings' purchasing power diminishes over time. This forces people to become more active, struggling to "invest" more, taking on greater risks, and ultimately failing more often, simply because they cannot find a way to save money that won't lose its value." — Piriya Sambandaraksa In reality, there's nothing wrong with saving. It's what we choose to save in that we should reconsider. #BitcoinFixesThis Meet Piriya at the event #TBC2024 on September 14-15. Enjoy his presence for two full days 😉 #siamstr #bitcoin