Thread 1/n 𧡠A complete historical overview of the failure of fiat currencies:
π° 775+ fiat currencies have failed throughout history (this is only a partial list, the actual number is in the thousands)
π° Average lifespan of a fiat currency is only 27 years
π° Over 750β¦
π° 775+ fiat currencies have failed throughout history (this is only a partial list, the actual number is in the thousands)
π° Average lifespan of a fiat currency is only 27 years
π° Over 750β¦
2/n π§΅
ποΈ The Roman Denarius: A tale of currency failure and its impact on an empire
There is a false belief that a currency or nation is too big to fail. One of largest contributing factors to the fall of Rome in 476 AD was the collapse of their currency.
β’ Introducedβ¦
ποΈ The Roman Denarius: A tale of currency failure and its impact on an empire
There is a false belief that a currency or nation is too big to fail. One of largest contributing factors to the fall of Rome in 476 AD was the collapse of their currency.
β’ Introducedβ¦
3/n π§΅
The United States has had numerous failures with its currency. Many arenβt aware of our storied past and have a false sense of security in the dollar.
Continental Currency πΊπΈ:
β’ Issued during American Revolutionary War (1775-1781)
β’ Rampant inflation due to excessiveβ¦
The United States has had numerous failures with its currency. Many arenβt aware of our storied past and have a false sense of security in the dollar.
Continental Currency πΊπΈ:
β’ Issued during American Revolutionary War (1775-1781)
β’ Rampant inflation due to excessiveβ¦
4/n π§΅
Revolutions arenβt cheap. War is a major cause of currency collapse.
French Assignats π«π·:
β’ Issued during French Revolution (1789-1796)
β’ Addressed financial crisis
β’ Over-issuance & rampant inflation
β’ Currency collapse & replaced by Franc
β’ Danger of excessiveβ¦
Revolutions arenβt cheap. War is a major cause of currency collapse.
French Assignats π«π·:
β’ Issued during French Revolution (1789-1796)
β’ Addressed financial crisis
β’ Over-issuance & rampant inflation
β’ Currency collapse & replaced by Franc
β’ Danger of excessiveβ¦
10/n π§΅
Venezuelan BolΓvar π»πͺ:
β’ 65,000% inflation in 2020
β’ Severe hyperinflation (2008-Present)
β’ Economic mismanagement & collapsing oil prices
β’ "BolΓvar Soberano" introduced in 2018
β’ Ongoing crisis & currency depreciation
β’ Importance of sound economic policy &β¦
Venezuelan BolΓvar π»πͺ:
β’ 65,000% inflation in 2020
β’ Severe hyperinflation (2008-Present)
β’ Economic mismanagement & collapsing oil prices
β’ "BolΓvar Soberano" introduced in 2018
β’ Ongoing crisis & currency depreciation
β’ Importance of sound economic policy &β¦
The anti-dote to fiat, is outlined below.
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