4T? What 4T?

[Kinser79]

(05-21-2016, 10:01 PM)pbrower2a Wrote: ...which is like saying that every person eventually dies, so why struggle?

Not quite. In general money is not animate unless the commodity of exchange is expressed in goats, chickens and slaves. Rather, any currency that exists purely on the say so of a government (or any other entity for that matter) will eventually fail. Those who control the currency simply can't help themselvs.

Quote:By 1944 this note could not buy a book of matches. When Douglas MacArthur returned as he promised, this 'funny money' was void. Unlike Confederate currency it does not even have numismatic value.

That would be an example of a fiat currency ending due to a governmental entity ending. That does happen but is not the only way a fiat currency ends.

As for numismatic value, as a collector of currency, it does have numismatic value (not a great numismatic value mind you) but some have made a point to collect occupation currency from WW2 not only from the Allies but also the Axis. There are also some who collect Military Payment Certificates.

https://en.wikipedia.org/wiki/Military_p...ertificate

I happen to have one such collection focusing primarily on MPCs from the Vietnam era. I happened to have inherited some really good pieces of those enough that I've taken it upon my self to search them out.

Quote:US currency has had some of its value gutted due to inflation,

About 98% since 1913, the bulk of that since 1971 when Nixon unpegged the Dollar to gold because the gold outflows became too great and threatened to cause chaos.

Quote: but slowly enough that people have never been obliged to hoard goods as a hedge against inflation.

Apparently you don't remember the stagflation of the 1970s. That being said, no the US has not had hyperinflation yet--I don't think that all inflation is "Hurr omgz hyper inflationz!!!#$one!". I leave such notions to the economically illiterate. That being said, just because hyperinflation hasn't happened yet doesn't mean that it can't, and the Fed tripling its balance sheets will eventually have to wash through the economy and at best we will experience stagflation.