Setelinleikkaus: When Finns snipped their cash in half to curb inflation
jpkoning.blogspot.com
Setelinleikkaus: When Finns snipped their cash in half to curb inflation
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Re: Setelinleikkaus: When Finns snipped their cash in half to curb inflation
#2Somehow this author has come to the conclusion that price controls are the "solution" to inflation.
This is a fundamental misunderstanding of why inflation is viewed as bad.
Re: Setelinleikkaus: When Finns snipped their cash in half to curb inflation
#3Somehow this author has come to the conclusion that price controls are the "solution" to inflation. This is a fundamental misunderstanding of why inflation is viewed as bad.
The article talks about history of alternatives to the interest rates, mainly controlling the currency supply and how it might be implemented in the future. How you discovered price control as the solution in there is still a mystery to me.
Re: Setelinleikkaus: When Finns snipped their cash in half to curb inflation
#4Mentioning the war on COVID but not the actual war between Russia and Ukraine that caused a huge spike in European energy prices is a big omission, since that caused a lot of global inflation.
Re: Setelinleikkaus: When Finns snipped their cash in half to curb inflation
#5The convenience of cutting paper money in half is a really anachronistic element of this tale - I’ve got a fair amount of money saved up, and approximately none of it exists as paper, so much as it exists ‘on paper’ - that is, as figures marked in a bank’s digital ledger, somewhere in a server farm.
How would an effort like this be handled today?
… a new crypto currency?
Re: Setelinleikkaus: When Finns snipped their cash in half to curb inflation
#6The convenience of cutting paper money in half is a really anachronistic element of this tale - I’ve got a fair amount of money saved up, and approximately none of it exists as paper, so much as it exists ‘on paper’ - that is, as figures marked in a bank’s digital ledger, somewhere in a server farm. How would an effort like this be handled today? … a new crypto currency?
as the article states, it didn't really work back then either as the bank accounts were not touched.
> This stock of notes only comprised 8% of the total Finnish money supply
Re: Setelinleikkaus: When Finns snipped their cash in half to curb inflation
#7The convenience of cutting paper money in half is a really anachronistic element of this tale - I’ve got a fair amount of money saved up, and approximately none of it exists as paper, so much as it exists ‘on paper’ - that is, as figures marked in a bank’s digital ledger, somewhere in a server farm. How would an effort like this be handled today? … a new crypto currency?
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Re: Setelinleikkaus: When Finns snipped their cash in half to curb inflation
#8Mentioning the war on COVID but not the actual war between Russia and Ukraine that caused a huge spike in European energy prices is a big omission, since that caused a lot of global inflation.
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Re: Setelinleikkaus: When Finns snipped their cash in half to curb inflation
#9Mentioning the war on COVID but not the actual war between Russia and Ukraine that caused a huge spike in European energy prices is a big omission, since that caused a lot of global inflation.
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As someone who knew a few people under age 35 who died from Covid, I find this comment offensive.