Quote from: alastantiger on April 25, 2024, 08:31:49 PM

The bitcointalk forum is comprised of diverse people from all over the world. Our countries' must have gone through inflation as a nation at least once or more since its history. As a refresher, inflation happens when the prices of goods and services rise and people can no longer afford those items because the country's money almost becomes useless. But is inflation needed? Why can't we just keep the currency at the same value? And why does it only happen to money? For example, the same wouldn't happen if we used gold as a currency instead. Is inflation a ploy that the government uses so people don't get rich off of savings?

just like you earlier stated that inflation occurs when the price of goods and services are high people cannot be able to afford their needs, inflation occurs as a result of economic crunch, when there is economic crisis which the rapid of good and services. it usually affects money because money is legal tender and inflation usually anything that is used as a medium of exchange because people solely depend on the legal tender in other to meet their desired needs in terms of buying and selling of goods and services. note that inflation is driven by too much demand relatively to supply. when the prices of goods and services increases rapidly thereby making it very unable for people to meet their needs.

For me inflation is not necessary, but it depends on the government policy because every ruling government has their reasons for inflation, maybe because of subsidy removal, increase or decrease in the oil demands and many more other reasons that they can give. inflation actually cause more harm than good to the poor masses .