The average 100 year old person living in Central Europe has experienced a currency conversion once a decade.
I wrote up this article for the SRSrocco Report to document three things.
1 – People all over the planet should never trust their governments with their money.
2 – Given the history of currency changes, it’s no surprise that people in Central Europe are, generally speaking, much poorer than people in Western Europe or North America.
3 – Protecting one’s wealth in an environment of constantly changing currencies is extremely hard. Thus, people should make the right choices when times are quite OK, because when the really hard times hit, all of one’s wealth can be lost very quickly and easily.
As you will see, there is not much difference between ideologies and governments. They all tend to follow the same practices and, in the end, they all destroy or at least significantly debase their currencies.
