It is always good to remember the past so we don't make the same mistakes in the future. On Mar. 1990, with a poor and desperate economic plan to beat the 80% MONTHLY INFLATION, the Brazilian government confiscated roughly $100B from checking, savings, and investment accounts. Heart attacks, bankruptcies and suicides followed. President's term didn't last long after that and he was impeached (for corruption) a couple of years later.
I grew up in Brazil and I was a kid at this time. Coming from a low middle class family, we had nothing in the bank to be confiscated. Life was hard enough with the hyper inflation and this economic plan had rippling effects in the Brazilian society. I live in US now. I always tell this story to my friends here, as see they tend to have a higher degree, almost a blind trust, on anything US gov related and the banking system. That's not the reality everywhere and this one huge anecdote helps them understand what can and have happened in the past.
Only one country has the dollar printer. BITCOIN is global.
submitted by /u/masqueporraehessa