Quote from: jaysabi on Today at 06:27:56 AM

Quote from: hello_good_sir on October 09, 2021, 05:45:00 AM

Inflation is built into the fiat economy.

The fact that countries have an inbuilt inflation target should be enough to prove that.

To think that inflation is just transitory is absolutely ridiculous. You might as well be saying to yourself that fiat is going to last forever even though all the fiat currencies that we have ever seen in history have gone down in flames irrespective of their country of origin.

Everyone knows that inflation is a regular part of monetary policy, by design, in fiat economies. What people mean by temporary inflation in the current context is whether or not the elevated inflation we're currently experiencing is temporary or a new normal. 5% is much higher than we've experienced in a long time, 1990 in fact was the last time the annual inflation rate for the year was over 5% and it was only above 5% for that one year. Prior to that was the high inflation environment that ran from 1973 to 1982, and sometimes saw inflation rate reach 10% in those years. The economy is so vastly different now it may not even be a meaningful comparison, but that's how long it's been not a concern.

If what goes on today is the new normal, a year from now we will have another new normal rate. But yup it's still temporary because another year passes another new normal rate. It's an alarming rate. US will have to contain this otherwise the political instability will cause this administration to fall.
I think the FED had it in mind though that they are going to adopt BTC soon, they are just not making people panic for now but just let them live life stay at home and they get their money from the government the keeps printing.

The rest of the world notices the foreign exchange currencies. If our money today appreciates then we know US money depreciates so what gives other countries still have the confidence in this currency?