Nominal GDP also increases by 1000 times, and everyone’s currency savings increases by 1k-fold, but the things which are explictly in nominal currency rather than in notes will keep the same number. The effect would be to destroy people who plan on using payments from debtors to cover future expenses, in the same way they would as if their debtors defaulted and paid only one part in a thousand of the debt, but without any default occuring.
Nominal GDP also increases by 1000 times, and everyone’s currency savings increases by 1k-fold, but the things which are explictly in nominal currency rather than in notes will keep the same number. The effect would be to destroy people who plan on using payments from debtors to cover future expenses, in the same way they would as if their debtors defaulted and paid only one part in a thousand of the debt, but without any default occuring.
And is it good?