Wealth inequality starts at birth. Lawmakers debate whether child savings accounts can help

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.

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.

I'm not sure why a parent would want to contribute to an account that isn't a UGMA/UTMA custodial account or 529 savings plan. I'd be interested in how to "receive federal contributions" though.