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At exactly which point did these currencies lose their store-of-value property?
They are usually victims of black swan events, such as revolutions, conquests, or other major political changes.
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So, is it necessarily the fault of central banks that the currency goes haywire?
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No, but I bet if you looked at the value of hard assets like gold, they would maintain their value through those events.
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I suspect that is the case as well, plus, those assets are transnational in nature.
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is there a universal definition of hard money?
End of conversation
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What do you think south Africa's chances are of this happening to the Rand.
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