When the average person hears talk about the potential for hyperinflation and how it would affect our world, it often sounds like a tale from Charles Dickens or something that could only happen in countries very far away from the United States.
Of course that is not the case. Over the past century, 56 countries have suffered the devastating consequences of hyperinflations as a result of their fiat currency systems.
During any fiat currency’s lifespan, there is an intangible factor that gives the currency purchasing power: trust.
When the public trusts a local currency, that currency has some “value” only because it is perceived by the public to have value. Once that public’s trust is lost, the currency devlaues and eventually becomes valueless.
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