Welcome to Scribd. Sign in or start your free trial to enjoy unlimited e-books, audiobooks & documents.Find out more
Download
Standard view
Full view
of .
Look up keyword
Like this
1Activity
0 of .
Results for:
No results containing your search query
P. 1
Money, Mud and Hyperinflation

Money, Mud and Hyperinflation

Ratings: (0)|Views: 135|Likes:
Published by qmunty
Uploaded from Google Docs
Uploaded from Google Docs

More info:

Published by: qmunty on Jun 19, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

06/19/2011

pdf

text

original

 
 
Analyst
Thomas Coughlin
Email
thomas.coughlin@tracfinancial.com.au
Released
1 July 2010
Money, Mud & Hyperinflation.
TRAC Financial Group | Research
stay safe.
Level 7, 193 North Quay, Brisbane Qld 4000 | PO Box 13240, George St, Brisbane Qld 4003Phone (07) 3236 2271 | Fax (07) 3236 1106 | admin@tracfinancial.com.auwww.tracfinancial.com.au | ACN 144 770 418
 
 
ABSTRACT
 
Since
 
World
 
War
 
II,
 
inflation
 
has
 
been
 
engrained
 
in
 
Western
 
society.
 
It
 
is
 
embedded
 
in
 
our
 
expectations
 
and
 
written
 
into
 
our
 
legislation.
 
Inflation
 
is
 
the
 
culture
 
of 
 
the
 
Baby 
 
Boomer 
 
generation.
 
Society
 
expects
 
prices
 
to
 
go
 
up,
 
and
 
is
 
convinced
 
something
 
is
 
wrong
 
if 
 
they
 
do
 
not.
 
The
 
general
 
fear
 
of 
 
deflation
 
is
 
unfounded.
 
Under
 
the
 
global
 
fiat
 
monetary
 
system,
 
to
 
inflate
 
or
 
deflate
 
is
 
largely
 
a
 
policy
 
makers
 
decision.
 
Amongst
 
developed
 
economies,
 
deflation
 
is
 
invariably
 
Public
 
Enemy 
 
Number 
 
One.
 
The
 
historically
 
proven
 
antecedents
 
to
 
hyperinflation
 
currently
 
exist
 
to
 
an
 
overwhelming
 
extent.
 
Banking
 
crises
 
have
 
been
 
shown
 
to
 
ordinarily
 
precede
 
currency
 
crashes.
 
Currency
 
crashes
 
result
 
in
 
high
 
to
 
hyper
inflation.
 
Hyperinflation
 
is
 
the
 
single
 
largest
 
problem
 
an
 
economy
 
can
 
face
 
and
 
should
 
be
 
of 
 
extreme
 
concern
 
for
 
anyone
 
who
 
is
 
positioned
 
defensively
 
for
 
deflation.
 
It
 
leads
 
to
 
the
 
systematic
 
destruction
 
of 
 
savings
 
and
 
if 
 
not
 
confronted
 
correctly,
 
the
 
total
 
destruction
 
of 
 
middle
class
 
wealth.
 
It
 
empowers
 
governments,
 
but
 
can
 
also
 
enrich
 
anyone
 
who
 
sees
 
it
 
coming
 
and
 
positions
 
themselves
 
correctly.
 
Of 
 
greatest
 
importance
 
to
 
the
 
report,
 
is
 
an
 
analysis
 
of 
 
the
 
ability
 
to
 
fight
 
inflation.
 
Evidence
 
concludes,
 
there
 
is
 
a
 
limited
 
capacity
 
for
 
developed
 
economies
 
to
 
fight
 
the
 
onset
 
of 
 
inflation,
 
without
 
being
 
crippled
 
economically.
 
This
 
report
 
delves
 
into
 
the
 
key
 
factors
 
contributing
 
towards
 
the
 
probability
 
of 
 
high
 
inflation,
 
by
 
providing
 
a
 
historical
 
and
 
present
 
overview
 
of 
 
the
 
global
 
monetary
 
system;
 
exploring
 
historical
 
empirical
 
studies
 
of 
 
crisis
 
sequencing;
 
examining
 
the
 
current
 
inflationary
 
forces,
 
showing
 
the
 
key
 
differences
 
between
 
now
 
and
 
the
 
Great
 
Depression;
 
and
 
evaluating
 
the
 
current
 
economic
 
and
 
financial
 
position,
 
and
 
performing
 
a
 
brief 
 
stress
 
test
 
displaying
 
the
 
limited
 
ability
 
for
 
the
 
Western
 
World
 
to
 
fight
 
inflation
 
from
 
a
 
financial,
 
economic
 
and
 
political
 
standpoint.
 
 
 
We
 
naturally 
 
imagine
 
that 
 
the
 
spot 
 
on
 
which
 
we
 
ourselves
 
stand 
 
is
 
 fixed,
 
and 
 
that 
 
the
 
things
 
around 
 
us
 
move.
 
The
 
man
 
who
 
is
 
in
 
a
 
boat 
 
seems
 
to
 
see
 
the
 
shore
 
departing
 
 from
 
him,
 
and 
 
it 
 
was
 
the
 
doctrine
 
of 
 
the
 
 first 
 
 philosophers
 
that 
 
the
 
sun
 
moved 
 
round 
 
the
 
earth,
 
and 
 
not 
 
the
 
earth
 
round 
 
the
 
sun.
 
In
 
consequence
 
of 
 
a
 
similar 
 
 prejudice,
 
we
 
assume
 
that 
 
the
 
currency 
 
which
 
is
 
in
 
all 
 
our 
 
hands,
 
and 
 
with
 
which
 
we
 
ourselves
 
are,
 
as
 
it 
 
were,
 
identified,
 
is
 
 fixed,
 
and 
 
that 
 
the
 
 price
 
of 
 
bullion
 
moves;
 
whereas
 
in
 
truth,
 
it 
 
is
 
the
 
currency 
 
of 
 
each
 
nation
 
that 
 
moves,
 
and 
 
it 
 
is
 
bullion,
 
the
 
larger 
 
article
 
serving
 
 for 
 
the
 
commerce
 
of 
 
the
 
world,
 
which
 
is
 
the
 
more
 
 fixed.
 
Henry
 
Thornton,
 
An
 
Enquiry
 
Into
 
the
 
Nature
 
of 
 
the
 
Paper
 
Credit
 
of 
 
Great
 
Britain,
 
1802
 

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->