When Money Dies

Update - 2/25/2021

Here is further discussion:

https://gnseconomics.com/2021/02/24/is-hyperinflation-on-the-horizon/

Update - 2/22/2021

Experts are raising the alarm, and I think it's time to take this seriously. Biden is going to spend us into a disaster, and then what will he do?

https://www.zerohedge.com/markets/michael-burry-warns-weimar-hyperinflation-coming

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I have been reading the 1975 book When Money Dies by Adam Fergusson. It describes the hyperinflationary period in central Europe following WWI. It's a shocking tale of misery.

I am struck by the similarities between then and now:

(a) Postwar Germany was saddled with huge reparations obligations by the Treaty of Versailles. Germany's tax base was eroded by industrialists who hid their money overseas, and the German treasury started printing fiat money at breakneck speed to keep the economy afloat. The overall result was hyperinflation which nearly destroyed the country ... and which helped Adolf Hitler come to power.

(b) We in the US face much the same situation. We're saddled with huge debt repayment obligations by the mess Congress has made of our federal budget. Some are clamoring for the imposition of slavery reparations. Our tax base has been eroded by corporations which shipped our industries overseas and which are hiding their huge profits from the US taxman. And the US treasury is printing fiat money at breakneck speed to keep the economy afloat. We haven't seen hyperinflation yet, but can it be that far off?

And in case you hadn't noticed, we're also in the middle of a growing race war in which federal, state, and local police forces appear unwilling or unable to intervene. Is the US version of Adolf Hitler waiting somewhere in the wings for the right moment to make her entrance?

We can quite easily suffer the fate of Germany. All it would take is for someone to strike a match and throw it into the pile of tinder which has been building up for the past several years.

And when our money dies, horrible things will happen.

You can find additional discussion here:

https://sainthoward.blogspot.com/2020/11/wheelbarrows-of-money.html

Or search my blog for the keyword "hyperinflation".