informationliberation
The news you're not supposed to know...




Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
(more)
Article posted Oct 30 2011, 7:13 PM Category: Economy Source: YouTube Print

'When Money Dies' Author Adam Fergusson Interviewed on Hyperinflation



Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. They discuss the fateful decisions that led to hyperinflation in post-First World War Germany, and how central bankers as well as ordinary members of the public today would be well advised to heed this warning from history.

Fergusson discusses how the hyperinflation affected different groups in German society in different ways -- with debtors benefitting and huge numbers of middle-class savers wiped out. Riots, corruption and political extremism were just some of the malignancies encouraged by the hyperinflation. He points out that those who held hard currencies as well as people who held tangible assets like gold and silver were in-large part protected from the worst economic consequences of the hyperinflation. In his words: "gold remained at all times in Germany the measure of what was important to them."

James and Adam discuss whether or not today there is any way for governments in the developed world to repay their huge debts. Both men conclude that inflation is the only politically viable method of repudiating these unmanageable obligations. Fergusson highlights the importance of velocity and the demand for money in determining whether or not inflation turns into hyperinflation -- though points out that this tipping point can take a surprisingly long-time to arrive; in Germany, people kept confidence with the rapidly devaluing mark throughout the First World War, despite clear signs that the country was heading for a currency crisis.

Fergusson thinks that we are heading for high inflation in many countries, but is doubtful that Weimar Germany's nightmare currency collapse can be replicated in a sophisticated modern economy. He concludes with a quote from Jean-Claude Juncker, prime minister of Luxembourg, who recently commented with respect of the sovereign debt crisis: "we all know what has to be done; what we don't know is how to get re-elected once we done it."





Latest Economy
- Are the Ruling Elites in China Now More Pro-market than the Ruling Elites in the USA?
- U.S. Government Debt Is Now at a Once-Unimaginable Level
- Ross Ulbricht, Martyr for Progress, and the Rise of Darkcoin
- Do We Need the State to License Professionals?
- How Government Helped Create the Coming Doctor Shortage
- Video: Obamacare Supporters Sign Petition to Extend Obamacare to Pets
- How Much Longer Can the U.S. Economy Bear the Burdens?
- Realtor: 'Paranoia' Driving Wealthy to Buy Homes in New Zealand









No Comments Posted Add Comment


Add Comment
Name
Comment

* No HTML


Verification *
Please Enter the Verification Code Seen Below
 


PLEASE NOTE
Please see our About Page, our Disclaimer, and our Comments Policy.


FAIR USE NOTICE
This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy



Advanced Search
Username:

Password:

Remember Me
Forgot Password?
Register

Video of Man's Police Interaction Exposes Vast Conspiracy -- This is Why You Always Film Police - 02/26Cop Assaults Man for Filming Brutality, Stomps Phone to Destroy Evidence Video Survived - 02/26Forced Blood Draws, DNA Collection and Biometric Scans: What Country Is This? - 02/26Senior Citizen Held at Gunpoint, Forced to Remove Clothes in Public, Jailed, for Driving Classic Car - 02/26If You're Not "Sovereign," You're Servile - 02/26Cop Confronts Open Carry Activist for Engaging in Constitutional 'Crap,' 'Bullsh*t' - 02/26Domestic Fear Is the Price of Empire - 02/26Study After Study Shows The DHS Has An Intense Morale Problem That Can Apparently Only Be Solved By Study After Study - 02/26

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands Up
(more)

 
Top