Comment: Austrian Economists gave a silent stare. Hyper Inflation.

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Austrian Economists gave a silent stare. Hyper Inflation.

An Austrian Economist would glance at that chart & lament, "That is what hyper inflation looks like. A sudden, sharp increase in money--supply." Price inflation is sure to follow, but the Austrian would not say when.

Over the centuries, many lost their head over metal coin.

French Revolution: "Like all his compatriots, he was taught as a child that the guillotine fell on evil aristocrats. Then he
found out that Claude Louis Deligny, his own ancestor, had lost his head in 1794 when revolutionaries discovered a cache of [gold or silver] coins stamped with the King’s head in the family grange.

What is the point here? During the revolution, the new govt went to a pure fiat paper currency called the Assignat, which the government hyperinflated. To force people to use the worthless paper, and prevent a parallel economy in still-circulating gold and silver coins, they made having or using or even offering to buy or sell in real coins a decapitation offense.

The revolutionaries even ran "sting" operations. "Hey farmer....psst....wanna sell that cow for some real silver?" If you said yes or maybe, "Off with your head!"

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul