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<p>[QUOTE=&quot;medoraman, post: 1248642, member: 26302&quot;]But for the last 100 years, and for the foreseeable future all modern societies use, and will continue to use, fiat currency. I use inflation as a proxy for expected safe bond returns since they tend to coincide. US Dollars are expected to be in an interset bearing device to make any kind of comparisons rational, since that is the expected investment for cash. </p><p><br /></p><p>It is simply people who use nominal dollars and then scare people by saying the dollar has lost 99% of its purchasing power who are using flawed logic. Like I have said before, any paper handed in by me to my professor, or to me as a professor,&nbsp; using nominal dollars over time would have been downgraded immediately. It is simply WRONG, and any discussion using nominal dollars over time is on its face erroneous, and I will not even bother to analyze any further, since the entire basis of the paper is utter trash.</p><p><br /></p><p>Btw Fatima, have you even checked you assertions of no inflation? I have read many times of increasing land values, increased prices of goods and services, from the time of the Revolutionary War to the Civil War. There was inflation in that time frame that you always like to claim didn&#039;t exist. There was also inflation in Greek times, in Roman times, and in the Medieval era. There are tons of sources decrying the fact that bread used to cost half an aes, but now cost 2 aes. Where exactly do you conclude inflation has only ever been experienced in human history in modern times?[/QUOTE]</p><p><br /></p>

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