a must read article and blog..............From How Fiat Dies
In over 100 cases of hyperinflation I don't believe there has ever been a
single "decision to have hyperinflation". Hyperinflation is when things get
out of control. It is not something central banks or government voted
on. No group in government or a central bank has had a show of hands
like "all in favor of hyperinflation raise your hands". Not the way
hyperinflation happens. Hyperinflation is a market response to government debt over 80% of GNP
and deficit over 40% of spending when the central bank starts printing
money and buying up government debt. Everyone thinks they just need to print a bit
more money to make it through the next week or month and there is
nothing else they can do since the government needs money to keep in
operation. Nobody votes for hyperinflation. Nobody
wants it. It just happens.''
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