This chart is really scary: the Turkish lira vs. the US dollar exchange rate trend line.

Since the 21st century, the lira against the dollar has cumulatively depreciated by nearly 99%.

The tragedy of being born in a country like this is that the effort you put in can be wiped out at any time by currency devaluation.

You work hard every day, get promoted and earn higher pay, tighten your spending—though the numbers in your account look like they’re getting bigger, when you factor them into global purchasing power, you end up getting poorer instead.

Wages rise by 20%, prices rise by 30%, and the exchange rate drops another 40%.

That’s also why for people in weak-currency countries, holding dollars, gold, Bitcoin, or other high-quality global assets isn’t necessarily about speculating and getting rich overnight.

More often than not, it’s just to preserve the value of your labor.