Most people judge currencies on a relative basis. This is a very poor measure of the value of a currency since it doesn't take into account the total destruction of paper money in the last 100 years.

大多数人都用相对价值来看待货币，这种方式完全没有考虑到过去一百年货币的大贬值。

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It is calculated as a ratio of the money gained or lost on that investment relative to the amount of money invested, and is typically stated as a percentage rather than as a dollar value.

它通过计算获得或者损失的资金数额同投入的资金数额的比例而得，通常以百分数的形式表示。

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And as a result of that, they are less willing to lend money out because if they lend out too much relative to the value of their assets, they then become unsound.

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The real focus should be on letting markets set relative prices, including interest rates, and adopting a monetary rule to protect the long-run value of money.

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