Nick Szabo 🔑 on Twitter: "Fruits of fiat: dozens of episodes of savings-and-credit-destroying hyperinflation over the last century, including in Germany, Russia, and China. Currently there is severe inflation in Venezuela, Argentina, both Sudans, Iran, Yemen, and Turkmenistan. h/t @steve

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‏ @NickSzabo4

Fruits of fiat: dozens of episodes of savings-and-credit-destroying hyperinflation over the last century, including in Germany, Russia, and China. Currently there is severe inflation in Venezuela, Argentina, both Sudans, Iran, Yemen, and Turkmenistan. h/t @steve_hankepic.twitter.com/7lcQdtGGSM

9:21 PM - 1 May 2018

149 Retweets
307 Likes

28 replies 149 retweets 307 likes

1. Cesar‏ @RealBitEstate 1 May 2018
  
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  Replying to @NickSzabo4 @steve_hanke
  
  Look at real estate prices and crude oil here in the US. Not looking pretty.
  
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1. Daniel Romero‏ @DRomATX 1 May 2018
  
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  Replying to @NickSzabo4 @steve_hanke
  
  The only way out this sick economic trend is to create a new model. We can thank Satoshi and other crypto innovators for recognizing and addressing this fact.
  
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1. Michiel Lescrauwaet‏ @MLescrauwaet 2 May 2018
  
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  Replying to @NickSzabo4 @steve_hanke
  
  Hyperinflation is like a turkey before Christmas. It’s all fine if the central authorities stay within the 2% bounds, until 1 day it ruins your fiat savings.pic.twitter.com/QBGlJ9QH2b
  
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1. Crypto Law Student ‏ @bitcornlaw 1 May 2018
  
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  Replying to @NickSzabo4 @steve_hanke
  
  Zimbabwe in particular is a great reminder of and example of hyperinflation.pic.twitter.com/cCmjHkbLQZ
  
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1. Andras ₿ecker [₿ ]‏ @AndrasGBecker 1 May 2018
  
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  Replying to @NickSzabo4 @steve_hanke
  
  Not the best table to lead for Hungary! :( At that time paper money was literally sweapt on the streets.
  
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1. painteronerabbit‏ @painter1rabbit 1 May 2018
  
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  Replying to @NickSzabo4 @steve_hanke
  
  The correlation between the people’s displeasure with their government is also a factor. Does that mean the more stable the Govt. the more stable the currency?
  
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1. Glen Garry ‏ @greasetrapglen 1 May 2018
  
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  Replying to @NickSzabo4 @coinyeezy @steve_hanke
  
  Get those folks some @DigiByteCoin
  
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1. Nanoshimoto‏ @Nanoshimoto 1 May 2018
  
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  Replying to @NickSzabo4 @steve_hanke
  
  Nicely done
  
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1. Michiel Lescrauwaet‏ @MLescrauwaet 2 May 2018
  
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  Replying to @NickSzabo4 @steve_hanke
  
  For those of you interested, this is the paper where the table is coming from: https://object.cato.org/sites/cato.org/files/pubs/pdf/workingpaper-8.pdf …
  
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1. Joe Walton‏ @JosephBWalton 2 May 2018
  
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  Replying to @NickSzabo4 @steve_hanke
  
  "Between 1970 and 2007 there were 124 systemic banking crises, 208 currency crises, 63 episodes of sovereign debt defaults; and between 1670 and 1970 there were 48 major crashes [monetary and/or currency related] "(Lietaer, et al. 2012, Money and Sustainability: The Missing Link)
  
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1. FORTIOR EX VULNERIBVS‏ @lucash_dev 3 May 2018
  
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  Replying to @NickSzabo4 @steve_hanke
  
  I lived with hyperinflation from the day I was born until my teens. We can’t rid the world of fiat soon enough.
  
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1. Ruminative Orangutan‏ @Ruminorang Mar 5
  
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  Replying to @NickSzabo4 @steve_hanke
  
  Fortunately it can’t happen here #MMT
  
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