Hungary 1946- Postwar Hyperinflation-
Banknotes worthless (unless you might want to use them in the bathroom)
Bill Fleckenstein in his weekly MSN Money column on 23 March posted the following comment:
"In a social democracy with a fiat currency, all roads lead to inflation. Many people have been confused because they thought that it meant every negative outcome would lead to inflation directly, but that isn't the case. It's the response to the problems that leads to the inflation (and currency debasement). We are attempting to print our way to prosperity. That can't be done any more than we could speculate our way to prosperity during the stock bubble or borrow our way to prosperity in the real-estate/credit bubble. Got gold?"
click title for excellent article from Thorsten Polleit and Mises Institute on hyperinflation
