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Wealth inequality starts at birth. Lawmakers debate whether child savings accounts can help (www.cnbc.com)

submitted 5 months ago by Blaze@reddthat.com to c/personalfinance@lemmy.ml

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[–] makeasnek@lemmy.ml 1 points 5 months ago

You can't save if your currency is constantly losing value. Putting money in a savings account is just slowly moving value from you to whoever controls the money printer and expands the supply.

[–] filister@lemmy.world 1 points 5 months ago

My parents lost all their savings due to hyperinflation. I can't imagine how crushing this could be to a parent. All your life you have saved some money, putting them every month to a savings account in a bank, just to wake up one day and realise that they have disappeared.

Back then I didn't realise how bad it is, but now as an adult, I can only imagine how they felt back then. Life sucks and fucks you up a lot.