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Lessons on currency debasement

A decade of quantitative easing and pandemic-linked profligacy have stoked fears over inflation
Lessons on currency debasement
  • The historical impact of hyperinflation still informs the modern German psyche 
  • Fears over excessive state intervention have resurfaced
  • Currency debasement and/or asset inflation can leech out in many ways

When Money Dies by Adam Fergusson was initially published midway through the 1970s. At the time, western economies were trying to keep a lid on the inflationary pressures unleashed by the Arab oil embargo following the Yom Kippur War.

The book, an examination of the economic, political and societal impacts of hyperinflation in Germany’s Weimar Republic, was republished in the aftermath of the global financial crisis, as concerns mounted over a rapid increase in the money supply and its potential effect on dollar value and consumer prices.

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