Thread by @tony_huszar

THE CURRENCY GRAVEYARD

The following is a thread on why we CANNOT trust our governments to create our money and why #monero and #btc   are revolutionary. 👇🏻🧵/1

Currencies in Germany 🇩🇪 over centuries:
The Goldmark (1873-1914)
The Papiermark (1914 - 1923)
The Rentenmark (1923 - 1924)
The Reichsmark (1924 - 1948)
The Deutsche Mark (1948 - 2002)
Mark der DDR - used in East Germany (1948-1990)
The Euro (2002-present) /2

When they switched from the Goldmark (gold standard mark) to Papiermark (fiat mark), huge inflation occurred due to printing a lot of money.

4,200 billion German Papiermarks = 1 $

Here is me holding a Reichsmark. /3

Currencies in France 🇫🇷🥖 over centuries:
Franc - (1360 - 1641)
Ecu - (1641 - 1795)
Franc - (1795 - 1960)
Franch’s purchasing power diminished
New Franc - (1960 - 2002)

100 old francs = 1 new franc

This is how francs used to look like. /4

Currencies in Italy 🇮🇹🍕over centuries:
Lira - (1861 - 2002)
Napoleonic Kingdom Lira - (1807 - 1814)
Lira denominations were wrapped in either copper, silver or gold (20 and 40 lire - 90% gold).
In 1919, lira had 1/5th of the purchasing power since 1914. /5

Notes began being issued, high inflation followed. From 20-40 lira to 20,000 or 400,000 lira.
Then the EUR came and it saved them! (Not, lul)

Here is a pic of the Lira. /6

Currencies in Spain 🇪🇸 over centuries:
Real - (14th century - 1864)
Golden Escudo - (1566 - 1833)
Silver Escudo - (1864 - 1869)
Pesetas - (1869 - 2002)
Inflation rate - (1956 - 2021) - 5,338.76%
100 EUR = 5,338.76 EUR.
6.34% inflation rate per year.

Here is a pic of Pesetas /7

Currencies in America 🇺🇸 over centuries:
**America didn’t just use the dollar**
Spanish Dollar - (16th - 19th century)
Continental Currency - (1775 - 1781)
Continentals became so worthless, they ceased to circulate as money.
“Not worth even a Continental.”
/8

US Dollar Created - (1792 - present)
1837-1862 —> 7,000 varities of banknotes existed which made Americans loose their confidence in paper money.

We had gold and silver certificates, 500$, 1000$ bills etc. /9

Finally, August 15, 1971, President Richard Nixon announced that the US dollar will not be backed by gold anymore. Today, America has a debt to gdp of 370% and heading to the collapse of the US dollar. /10

Final thoughts: they all end in the graveyard. We cannot trust the government.

#Monero and #btc are the true revolution. It is the first time in history where people can save multi-generational wealth and retain its value. /END