we all know the thing where it’s like oh in the 60s x amount of money is equivalent to x amount in today’s time, and how people could earn a dollar for an hourly wage because it was worth more back then. is it possible to have a “reset” on inflation where we go back to spending/earning a dollar, or will it keep permanently increasing to where in the future 10k is chump change?
In: 15
Yes, kind of.
The closest successful thing I can think of would be something like the decimalisation of the British pound. Where they ended up recalling and recategorizing the amount each of their coins was worth. There was a period where everything was both prices and there was plenty of options for people to exchange their old coinage for new.
Or similarly the introduction of the Euro to all of the member states.
Issue a new currency at a set exchange rate with the old currency that brings the numbers down. So long as you don’t introduce a way to profit off of the exchange, all bondholders of the old currency are paid at the exchange rated value, and the value everyone holds is the same as before it should work.
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