Money is the tangible store of your time and effort. Depreciating money robs you of that time and effort, your life. From MN Gordon at economicprism.com:
Today, as we step into the New Year, we reach down to turn over a new leaf. We want to make a fresh start. We want to leave 2019’s bugaboos behind.
But, alas, lying beneath the fallen leaf, like rotting food waste, is last year’s fake money. We can’t escape it. But we refuse to believe in its permanence.
Victorian economist William Stanley Jevons, in his 1875 work, Money and the Mechanism of Exchange, stated that money has four functions. It’s a medium of exchange, a common measure of value, a standard of value, and a store of value.
No doubt, today’s fake money, including the U.S. dollar, falls well short of Jevons’ four functions of money. Certainly, it comes up short in its function as a store of value.
Hence, today’s money is not real money. Rather, it’s fake money. And this fake money has heinous implications on how people earn, save, invest, and pay their way in the world we live in. Practically all aspects of everything have been distorted and disfigured by it.
Take the dollar, for instance. Over the last 100-years, it has lost over 95-percent of its value. Yet, even with this poor performance, the dollar has one of the better track records going. In fact, many currencies that were around just a short century ago have vanished from the face of the earth. They’ve been debased to bird cage liner.