Jim: > When that power goes away, as during a civil conflict or after losing a war, > the printing presses roll and fiat money loses its scarcity value, so that > hyperinflation roars.
In a way, this is what happened over the past decade. Not necessarily hyperinflation but a very high inflation in asset prices. Now, the asset prices are deflating as the money is being destroyed. Sabri _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
