Quote from: pooya87 on Today at 12:16:30 PM

People don't like investigating how the stock market works and it is hard to enter it as well. Crypto market is also too volatile to enter too. So they just buy USD or gold instead. Like Argentina where 1 dollar went from 100 peso to 1000 pesos in past 5 years.

1 dollar went from 100 pesos to 1000 pesos, this is the inflation of local currency but at the same time, USD experiences inflation too but the problem is that people don't know what inflation ის and they think that USD doesn't lose purchasing power.

Quote from: pooya87 on Today at 12:16:30 PM

In your case, I have to say it is strange because AFAIK your country has a very low inflation rate (less than 1%) and your currency has been stable against the dollar which means there is no incentive for people to bag hold dollar. In fact dollar got dumped against your local fiat over the past 5 years, from 3.27 to 2.7 Lari so those who bag held dollar have actually lost money. Cheesy

Let me explain what's happening. Yeah, our currency has been stable and the dollar got significantly against our local currency but that means absolutely nothing because absolutely everything became expensive. Did your government ever mention 1% inflation? That is a total joke. Rent became two and three times more expensive than it was before the Russia-Ukraine war. So, in recent two years, rent has become 2-3x more expensive. Water and beverages became 30% more expensive, and food became 20-50% more expensive. Public transport has become 100% more expensive.
I was in Italy this summer and I swear absolutely everything was cheaper in Italy compared to my country but the average salary in my country is 600$. I'm earning way more than I was earning ever but I live worse than before because absolutely everything is very expensive and life is unbearable if you don't own a house. Gladly, the majority of the population owns a house and almost no one has a housing problem but because of my profession I have to work in our capital and I am forced to rent an apartment.