Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Dear Banks, Please Keep Printing More Money. (LOL)
by
Lida93
on 10/06/2025, 11:37:34 UTC
⭐ Merited by memehunter (1)
The book written by "Lawrence Lepard" discusses in detail the effects of printing money. When a country's central bank prints excess money, the effect is to cause inflation. Hyperinflation occurs when a country prints too much currency, as happened in Zimbabwe in 2000 and is currently facing an extreme situation in Venezuela.
When there is excessive inflation in a country, the value of the currency in that country decreases so much that even if you take a sack of money to the market, you cannot buy a kilogram of rice. In this situation, Bitcoin will play an important role in combating hyperinflation.
A similar situation with Nigeria Naira when the government decided to print launch new Naira notes even in larger quantities of different denominations. A situation that led to the devaluation of the naira to the dollar from around #460 equally to $1 to about #2000 equalling to $1 between 2022 to 2023 (though currently it fluctuates between#1500/1600 to 1 USD). Leading to a hyperinflation in the country that till date people are still finding it difficult to navigate their way around to survive the harsh economic situations of increasing prices of goods/services the government decision of printing excess new more notes caused.