Alasdair Macleod: Lessons on inflation from the past

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By Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Thursday, September 24, 2020

This article examines two inflationary experiences in the past in an attempt to predict the likely outcome of today's monetary policies.

The German hyperinflation of 1923 demonstrated that it took surprisingly little monetary inflation to collapse the purchasing power of the paper mark. This is relevant to the fate of the "whatever it takes" inflationary policies of today's governments and their central banks.

... Dispatch continues below ...



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The management of John Law's Mississippi bubble, when he used paper money to rig the market is precisely what central bank policy is aimed at achieving today. By binding the fate of the currency to that of financial assets, as John Law proved, it is the currency that is destroyed. ...

... For the remainder of the commentary:

https://www.goldmoney.com/research/goldmoney-insights/lessons-on-inflati...

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