Debasing the currency devalues savings from "summary" of The Little Book of Bull Moves in Bear Markets by Peter D. Schiff
When governments debase their currencies, they are essentially reducing the value of the money in circulation. This can have a detrimental effect on individuals who have savings denominated in that currency. As the value of the currency decreases, the purchasing power of those savings diminishes accordingly. Imagine you have diligently saved a certain amount of money over the years, only to see its value erode due to currency debasement. This means that the goods and services that you could have purchased with your savings in the past now require a larger portion of your diminished funds. In essence, your hard-earned savings have been devalued by the actions of those in control of the currency. The consequences of this devaluation are far-reaching. Not only do...
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