Nope, everybody just starves. Venezuela, for instance, has an inflation rate of 200,000 This means that their money is worth basically nothing. In other words it buys nothing. My understanding is that they use the dollar and now that one may fail as well if we are not very careful. Vensuela, incidentally was, several years ago, considered the richest nation in the world. What happened was simple - the Socialists took over and everything went to hell.
Money used to be backed up with some kind of something with worth. We used to back ours up with gold and then Nixon took care of that. What happened was that somebody figured out that, given the amount of dollars out there, that there wasn't enough gold, or silver, in the world to back the dollar. Stuff that has been used, in the past, to back money has been salt, tea, saffron, decorated shells, alcohol, cigarettes, cocoa beans, and barley. These days, however, most money is based on simple faith, just like the dollar and has no intrinsic value. Its always amused me. Folks not given to religion, don't believe in God, etc. still have faith - in the Dollar. Its almost religion but not quite.
Last edited by jgw; 05/14/21 06:52 PM.