Inflation the biggest problem of the modern era.

[Unknown Op]

One of the key strength of man is that he is capable of adjusting and adapting to situations he has no control over and with that, it's not even proper to think that those in ancient time had it easy going than those of us at the present time.

With cases of wars, failed governance, insecurity  and social vices that has contributed to the reduction in the way people generally carry out Thier activities, it's not strange that it effect will fall back to inflation getting worse and hitting madly on people. Inflation is not even the biggest problem of the masses because of you're faced with flood like a lot of nations are currently facing, You will for a moment forget that there's a thing called inflation. If you're faced with life threatening security situation, you will suddenly realise that life comes first before any other thing.

I agree that inflation is not the most immediate problem if someone have to face with other issues like protecting their life and family naturally because of the flood war other issues. Then those issues are more important than increasing prices of goods and disasters can destroy production and supply chain and then can create shortage and the prices higher causing inflation but I think that we should not under estimate that inflation simply because of the other problem can be more urgent.
As like flooder war inflation can also reduce people purchasing power and become damaging when it remains high for years and years.

[red4slash]

It would not ever be an economy purely run on Bitcoin, there's multiple reasons why that will not happen.   But I dont think its even true that dollar has been exclusive at any point, even when it was dominant it was gold backed and we had every other currency linked on the basis of that gold backing so the friction in the system was eased via multiple routes.

For the case of bitcoin I agree with what you say because since the beginning bitcoin was not created to run the economy of a country but bitcoin was created as a system with decentralization to get us out of government control or bank systems that have existed since the beginning.

But talking about the dollar now they do have great power even though the dollar is now weakened but they still have a dominant role because they still control about 50% more global foreign exchange reserves. This indicates that the dominance of the dollar is still very pronounced today.

https://cepr.org/voxeu/columns/dollars-status-through-lens-foreign-exchange-reserves

In addition, petrodollars are also still one of the factors that is quite logical to say that their dominance is still very large now even though there are currently some complicated situations especially when discussing geopolitics but it cannot be denied that currently petrodollars are still one of the things that every country will not be able to let go of.

[Etranger]

I just think in general that beating inflation in the short run is impossible. That would mean that someone could be immune to it, but absolutely everyone feels it on themselves, just to varying degrees. One needs to focus on realistic goals. And so in the long term perspective one can, if not completely negate, then definitely reduce the effect of inflation specifically on oneself and one's household. But staying completely outside of it will not work.

Can anyone truly be immune to inflation?
You know it doesn’t care how reach you are or what you’re into. At the very least we could have said that, those who own businesses and offer some services would channel these extra cost on their products and services offered but, having to levy that much alone is already you having to take that drastic decision which you wouldn’t have on a normal day and still, you would be paying just as much when you buy products and rent services as well.

This is exactly what I am talking about. It is impossible to be completely immune to inflation. There is an objective reality in which we live. And if you are part of the economic system, and not being part of it is simply impossible unless you live somewhere ascaticaly on a subsistence economy, then you will feel inflation and its consequences. But the impact on different people, on different categories of the population, will differ.

[Inwestour]

This is exactly what I am talking about. It is impossible to be completely immune to inflation. There is an objective reality in which we live. And if you are part of the economic system, and not being part of it is simply impossible unless you live somewhere ascaticaly on a subsistence economy, then you will feel inflation and its consequences. But the impact on different people, on different categories of the population, will differ.

Yes, if you live in a rural area and can be in an environment that provides you with a certain degree of independence from many of the goods and influences of civilization, you may not feel the effects of inflation as strongly. But for city dwellers, people who are accustomed to living in an urban environment, inflation will be felt much more acutely, especially if, before inflation started rising, their salaries were only enough to cover all of their basic necessities.

[CryptoBuds]

For the case of bitcoin I agree with what you say because since the beginning bitcoin was not created to run the economy of a country but bitcoin was created as a system with decentralization to get us out of government control or bank systems that have existed since the beginning.

Indeed, government would never let this scenario happen. They would never allow a currency they do not control to become the main unit of account in the economy.

But talking about the dollar now they do have great power even though the dollar is now weakened but they still have a dominant role because they still control about 50% more global foreign exchange reserves. This indicates that the dominance of the dollar is still very pronounced today.

https://cepr.org/voxeu/columns/dollars-status-through-lens-foreign-exchange-reserves

In addition, petrodollars are also still one of the factors that is quite logical to say that their dominance is still very large now even though there are currently some complicated situations especially when discussing geopolitics but it cannot be denied that currently petrodollars are still one of the things that every country will not be able to let go of.

As for the usd and petrodollar, they still dominate the global economy, but dedollarization is no longer just an idea. It's already happening.

Years ago, usd accounted for more than 71% of global foreign exchange reserves, but that share has now fallen to around 50%, as you mentioned, and it could continue to decline in the future.

Likewise, Iran has used the yuan through CIPS, instead of usd and SWIFT. Saudi Arabia has also signed agreement with China to use the yuan instead of the usd. And within BRICS, an increasing number of trade transaction are being settled without using the usd.


https://americanalternativeassets.com/blog/predicting-the-future-of-the-dollar-in-a-changing-world/