06-07-2021, 07:57 PM
Fed printing more and more USD is a stab in the back for people in other countries t
<!-- SC_OFF --><div class="md"><p>Some people may not realize but El Salvador's main currency is the USD. It is used there as currency for everything, from savings to expenses. </p> <p>But the main difference is that unlike USD, the Salvadorean central bank can't print more of this currency. This is fine if the supply of the USD doesnt go up. But when 22% of USD in circulation was printed in 2020 alone, and almost all of it has gone just to support USA, this is a big problem for countries that have adopted the USD based on trust but now find out this was a huge mistake. </p> <p>Salvadoreans find their savings are fast losing purchasing power, but unlike USA they dont have any stimmy checks to cash in, and their earnings and average household income isnt going up to account for the massive inflation of USD. Essentially, they are experiencing a mini-Zimbabwe like situation even though they are using USD. </p> <p>They can either go back to their own currency, or just adopt cryptocurrencies which have all the characteristics of fiat currencies except they cannot be manipulated at will (atleast the ones that have proven themselves)</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Set1Less"> /u/Set1Less </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nucl9j/fed_printing_more_and_more_usd_is_a_stab_in_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nucl9j/fed_printing_more_and_more_usd_is_a_stab_in_the/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Some people may not realize but El Salvador's main currency is the USD. It is used there as currency for everything, from savings to expenses. </p> <p>But the main difference is that unlike USD, the Salvadorean central bank can't print more of this currency. This is fine if the supply of the USD doesnt go up. But when 22% of USD in circulation was printed in 2020 alone, and almost all of it has gone just to support USA, this is a big problem for countries that have adopted the USD based on trust but now find out this was a huge mistake. </p> <p>Salvadoreans find their savings are fast losing purchasing power, but unlike USA they dont have any stimmy checks to cash in, and their earnings and average household income isnt going up to account for the massive inflation of USD. Essentially, they are experiencing a mini-Zimbabwe like situation even though they are using USD. </p> <p>They can either go back to their own currency, or just adopt cryptocurrencies which have all the characteristics of fiat currencies except they cannot be manipulated at will (atleast the ones that have proven themselves)</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Set1Less"> /u/Set1Less </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nucl9j/fed_printing_more_and_more_usd_is_a_stab_in_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nucl9j/fed_printing_more_and_more_usd_is_a_stab_in_the/">[comments]</a></span>Kind Regards R