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Comment on Gold

Akasazh@lemmy.world ⁨1⁩ ⁨week⁩ ago

Yeah like the influx of gold and silver from the Americas shook the European economy in the 17th century:

en.wikipedia.org/wiki/Price_revolution

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explodicle@sh.itjust.works ⁨1⁩ ⁨week⁩ ago
That explains why our economy is so shaken today!

This level of inflation amounts to 1.2% per year compounded, a relatively low inflation rate for modern-day standards, but rather high given the monetary policy in place in the 16th century.

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