PayPal will make it nearly impossible for corrupt governments to steal citizens' wealth through inflation and currency devaluation, because people will switch to stronger currencies.
Inaccurate ●●●●●
“It will be nearly impossible for corrupt governments to steal wealth from their people through their old means”
- Said on
- 1 July 1999 · Internal 1999 speech to Confinity (later PayPal) employees, as quoted in Eric Jackson's book The PayPal Wars and reproduced in Reason's review; exact 1999 date unknown (approximate).
- Source
- Who Killed PayPal? · Reason
- Should come true
- No date given
- How sure they sounded
- It will be nearly impossible
- Categories
- TechnologyEconomy
- Importance
- 3 of 5 · Claims a payments product would end inflationary expropriation by governments across many countries.
Outcome
Inaccurate
More than 25 years later, governments still erode citizens' wealth through inflation and devaluation: Venezuela's hyperinflation in the late 2010s and Lebanon's 2019+ currency collapse, for example. PayPal did not become a borderless currency escape route that prevented this.
- https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela
- https://en.wikipedia.org/wiki/Lebanese_liquidity_crisis
History
- 2026-10-16 23:38:03 · created by claude
- 2026-10-16 23:38:18 · scored by claude
- 2026-10-16 23:49:07 · categorized by claude