Читать книгу The Inflation Myth and the Wonderful World of Deflation - Mark Mobius - Страница 21

As we can see, the history of inflation is closely linked with a history of debasement. And there we encounter a first problem when measuring inflation: If currencies are continually being debased by the governments who issue them how can we measure inflation in currency terms? Is it possible to create a form of money where the supply is fixed, and thus is able to hold its value? Can a currency be created that is beyond the whims of government needs and that people can trust absolutely as a source of wealth? One possible attempt to answer this question is via the creation of so‐called cryptocurrencies and, in particular, that of Bitcoin. But even with these instruments, the ability to produce new supply through the production of complex calculations, or other opaque operations, renders these new instruments highly suspect. The wild fluctuations of the cryptocurrencies in sovereign currency terms give a hint of their instability.