I got a chuckle out of this.

ME

• doesn't all fiat currency eventually go to zero?

ChatGPT:

In some cases, yes. Throughout history, there have been instances of fiat currencies losing value and eventually becoming worthless, often as a result of hyperinflation or other economic factors.

However, not all fiat currencies have gone to zero, and many continue to be used as a medium of exchange and store of value. The stability of a currency is influenced by many factors, including the strength of the underlying economy, the stability of the political system, and the central bank's monetary policy.

It is also worth noting that the US dollar, as one of the world's most widely used currencies, has maintained its value relatively well over the long term. That being said, no currency has a guaranteed value and it is always important to consider the potential risks when making investment decisions.

ME:

• how much value has the US dollar lost in the last 100 year

ChatGPT:

The value of the US dollar has changed over time due to various economic, political, and monetary factors. Over the past 100 years, the US dollar has experienced both periods of appreciation and periods of depreciation relative to other currencies and to goods and services.

Measuring the exact value of the US dollar over the last 100 years is difficult, as it depends on the specific measure used. However, one common measure of the value of a currency is its purchasing power, which is the amount of goods and services that can be bought with a single unit of the currency.

According to the Bureau of Labor Statistics, the inflation rate in the US was approximately 2.2% per year on average over the last 100 years. This means that the purchasing power of the US dollar has declined over time. As a rough estimate, the purchasing power of the US dollar has likely declined by around 95% over the last 100 years.

It is important to note that these figures are just estimates and that the actual decline in the value of the US dollar over the last 100 years will depend on a number of factors, including the specific goods and services being considered and the time period being analyzed.

ME:

• I'm confused, you said "the US dollar has maintained its value relatively well over the long term" but then right after you said "the US dollar has lost almost all its value over the last 100 years (95%)' which one is it?

ChatGPT:

I apologize for the confusion in my previous response. The US dollar has indeed lost significant value over the last 100 years, as measured by its declining purchasing power due to inflation. The value of the US dollar is constantly changing, and while it has generally maintained its stability as a currency, it has lost a significant amount of its value over the long term.

To put it another way, the US dollar today can buy less goods and services than it could 100 years ago due to inflation. While the US dollar remains a stable currency and is widely used, its declining purchasing power over time is a fact of monetary economics.

Submitted February 10, 2023 at 08:54PM by Just-Blow-Into-It https://bit.ly/3lvhWpS