Today I look at the question of whether we will experience deflation or hyperinflation. My view is that we will be getting both and that we are already experiencing deflation as of now.
A discussion of hyperinflation also requires, in my opinion, looking back at history and especially at the 1923 Weimar case in post-WW1 Germany and looking at what exactly led to the loss of confidence in the German mark.
When Money Dies: The nightmare of the Weimar Hyper-Inflation: https://www.amazon.co.uk/When-Money-Dies-nightmare-Hyper-Inflation/dp/1906964440/ref=sr_1_1?dchild=1&keywords=when+money+dies&qid=1588063756&s=books&sr=1-1
What Has Government Done to Our Money by Murray Rothbard: https://mises.org/library/what-has-government-done-our-money
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Thanks again, as usual, for the educational material, Maneco64. We live in a generation where most do not understand the value of Gold and Precious Metals. Even the uneducated of the past knew of its value better than most do today. A little will go a long way in the near future.
People worked for one of these, in its day. And some workdays were from sunrise to sunset. "Another Day Another Dollar"
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Well said!
Then, the public knew what money was.
Now, the public just work for currency, spend currency and, if they can, save currency.
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Hi Mario! It's time to stop saying "steemit" at the end of your videos. The community has moved over to hive.io now. You have an account and money on the Steem fork too now: https://hive.blog/@maneco64
You can log in with the same details as with Steem. For more information why this fork happened, check this article:
https://hive.blog/steem/@lukestokes/how-steem-became-hive
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The current situation also shows how few people take the effort to go back in time and see how things were done in the past. It would reveal the lies in the current system. Monetary history is not taught in schools for a reason, I guess.
A personal note. After WWI all European nations went through inflation. My mother remembers a story of her grandmother (my greatgrandmother) living in Belgium. After the war her sons went off to France to help rebuild the country. They made a small fortune together, and brought it back home. It was enough to buy several houses. My greatgrandmother was not a sofisticated woman; she put all of the money her sons brought back under the mattress. Bank accounts were not for the common folk in those days; also, if you were not married, it was customary to turn in all of your earnings at the family money manager (the mother). After two years inflation had sky rocketed; the money had lost most of its value. Her sons were angry over the handling of the money. They could hardly afford a new costume for one of the sons' marriage.
Only the Weimar inflation is known, but all European countries (war-participants) suffered heavy inflation. That seems like a forgotten fact nowadays.
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Thank you for your illuminating and very interesting comment.
As a child, I remember my grandparents had several months supply of tins of meat, vegetables and fruit stowed away in the out houses. Could of been because of the effects of rationing in the UK during WWII and the 1930's depression.
Oh so right, and so is the monetary system not taught in University economic courses.
HISTORY TELLS US ALL A LOT OF WHAT TO EXPECT IN THE FUTURE. IT ALWAYS RHYMES!
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