Hacker News new | ask | show | jobs
by throwvirtever 1665 days ago
> You don't see how people are unhappy with getting their savings diluted by unlimited money printing?

Money printing dilutes wealth if you hold it in cash, but every other asset appreciates. Moreover if you have more debt than wealth, money printing reduces that burden.

How many people actually have more wealth than debt but keep it largely in cash? I never understood who exactly has this problem.

1 comments

The vast majority of humanity has no access to credit besides borrowing cash from Uncle Pedro, no access to any other financial instruments besides cash and keeps their savings under their mattress or in a shoe box. You don't understand who has this problem because you don't know anyone who has this problem, but outside of our comfy western countries most people have this problem.
> outside of our comfy western countries most people have this problem.

Can you cite some evidence that there are people keeping long-term savings* in cash and has adequate internet access and computing resources to participate in cryptocurrencies? I'm still not buying this.

* (I believe people do hold short-term savings in cash, but those are not the type of savings that money-printing erodes significantly.)