{"id":4390,"date":"2015-01-11T11:48:21","date_gmt":"2015-01-11T16:48:21","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4390"},"modified":"2015-01-11T11:48:21","modified_gmt":"2015-01-11T16:48:21","slug":"the-currency-illusion","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4390","title":{"rendered":"The Currency Illusion"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/armstrongeconomics.com\/2015\/01\/11\/the-currency-illusion\/\" target=\"_blank\">The Currency Illusion<\/a><\/h3>\n<p><strong>QUESTION:<\/strong>\u00a0\u00a0I want to share a true story with you.<\/p>\n<p>My father as a young boy in Greece saw what gold did for his family.<br \/>\nMy grandfather in Greece in the late 30\u2032s and 40\u2032s saw the rapid devaluation<br \/>\nhappening to the drachma. English sovereigns were plentiful<br \/>\nthere at the time as a sort of duo currency.<br \/>\nAs you can probably figure out he was converting any of his cash to gold<br \/>\nsovereigns.<\/p>\n<p>My question to you is why do you protect the American dollar<br \/>\nand not the people of the world from the rapid devaluation<br \/>\nof their savings.<\/p>\n<p><a href=\"http:\/\/i2.wp.com\/armstrongeconomics.com\/wp-content\/uploads\/2013\/02\/dollar-rallies.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-9198\" src=\"http:\/\/i2.wp.com\/armstrongeconomics.com\/wp-content\/uploads\/2013\/02\/dollar-rallies.jpg?resize=584%2C438\" alt=\"Dollar-Rallies\" width=\"569\" height=\"426\" \/><\/a><\/p>\n<p><strong>ANSWER:<\/strong>\u00a0This is the entire problem with currency \u2013 people do not truly understand it and attribute to a single object value that does not truly exist. You can \u201cthink: it was gold that rose, but was it simply that the Drachma declined? The difference is critical. If\u00a0<strong>ONLY<\/strong>\u00a0gold rose then what you say would be correct. But if\u00a0<strong>EVERYTHING<\/strong>\u00a0rose, you are wrong.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Currency Illusion QUESTION:\u00a0\u00a0I want to share a true story with you. My father as a young boy in Greece saw what gold did for his family. My grandfather in Greece in the late 30\u2032s and 40\u2032s saw the rapid devaluation happening to the drachma. English sovereigns were plentiful there at the time as a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[951,1099,2590,536,839,2589],"class_list":["post-4390","post","type-post","status-publish","format-standard","hentry","category-economics","tag-currency","tag-currency-devaluation","tag-devaluation","tag-money","tag-us-dollar","tag-value"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4390"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4390\/revisions"}],"predecessor-version":[{"id":4391,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4390\/revisions\/4391"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}