EOM Chapter 7 The Nature, Cause, and Consequences of Inflation
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The future of fiat currency is always grim on a long-enough timeline. John Maynard Keynes famously wrote in 1923, “The long run is a misleading guide to current affairs. In the long run we are all dead.” Although this might not be what it appears superficially to mean, his “long run” can be applied to fiat currencies. None of them last forever, even our own. Thomas Greco in his new chapter to The End of Money and the Future of Civilization provides some historical nuggets that might just be inspirational. My favorite is the following, which regards the hyper inflationary period of inter-war Germany:
EOM Chapter 7 The Nature, Cause, and Consequences of Inflation
EOM Chapter 7 The Nature, Cause, and…
EOM Chapter 7 The Nature, Cause, and Consequences of Inflation
The future of fiat currency is always grim on a long-enough timeline. John Maynard Keynes famously wrote in 1923, “The long run is a misleading guide to current affairs. In the long run we are all dead.” Although this might not be what it appears superficially to mean, his “long run” can be applied to fiat currencies. None of them last forever, even our own. Thomas Greco in his new chapter to The End of Money and the Future of Civilization provides some historical nuggets that might just be inspirational. My favorite is the following, which regards the hyper inflationary period of inter-war Germany: