Discover and read the best of Twitter Threads about #hyperinflation

Most recents (15)

Daily Bookmarks to GAVNet 05/02/2021 greeneracresvaluenetwork.wordpress.com/2021/05/02/dai…
Israeli scholars find millions-year-old human traces in ‘Miracle’ Cave

jpost.com/archaeology/is…

#israel #HumanHistory #caves #archaeology #discovery
Read 10 tweets
1. Good morning, everyone! Turns out it's not so simple for me to purchase shares of @Vemanti $VMNT. I must adhere by SEC Rule 10B-18. Our counsel is drafting up the memo. Will share with you.

Also, I want to give you a brief summary of what we're working on.
2. We have:

- #fintech M&A transactions which we expect to close by end of Q2. These are already-established players in their respective markets. One w/ 2M+ users. Part of our pan-Asia strategy. This will take us to another level in terms of P&L fundamentals and growth.
3.

- a multi-layer yield #Blockchain #Stablecoin #Crypto project with key partners. Working through the operational details. Aiming to launch this in Q2. Goal is to use #cryptocurrencies to power #fintech products and services that real people and businesses can use.
Read 9 tweets
1. [#CeJourLà] Le 19 février 1796, le Directoire organise la destruction du matériel permettant la fabrication d’#assignats. Réalisée en Allemagne, une gravure dépeint l'opération comme un « #brûlement » de billets. Cette transposition graphique vaut bien un thread d’#econhist 👇
2. À l’origine, les assignats sont créés en 1789 comme des titres d’emprunts gagés sur les ventes à venir des biens nationaux. Cependant, les émissions d’assignats dépassent rapidement la valeur des biens nationaux et les titres se transforment en papier-monnaie.
3. En quelques années, les assignats se déprécient tant qu’il est tentant de parler d’#hyperinflation. Or, pour nos esprits contemporains, la prolifération de billets dévalués s’accompagne souvent de leur destruction par le feu.
Read 14 tweets
Who was Hugo Stinnes?

In the early 1920’s in Weimar Germany, Hugo Stinnes became the richest man in Germany earning the title the ‘Inflation King’ How did he do it? Time for a #Thread 🧵 🪡 👇 1/ Image
For reference, whenever I say ‘Inflation King’ 🤴, I am saying the words with a ‘Sausage King of Chicago’ accent from Ferris Buellers day off. 2/ Image
Hugo Stinnes was born in Germany 🇩🇪 in 1870. Stinnes inherited his father’s coal #mining ⛏ business in 1890 at the age of 20. He began to purchase seagoing vessels 🚢 to transport his coal and other materials. 3/ Image
Read 15 tweets
The hyperinflation in Weimar Germany in 1922-23 has become the poster child of mainstream economists – and especially the monetarists – when presenting the benefits of constraining governments by the rules of ‘sound finance’.
Their narrative presumes that governments are naturally inclined to spend beyond their means and that, if left to their profligate ways, inflation ‘gets out of hand’, leads to hyperinflation in a continuous, accelerating, unstoppable catastrophic collapse of the value of money.
In contrast to this ubiquitous mainstream analysis, we recognize a fundamentally different origin of inflation, and argue that inflation requires sustained, proactive policy support. And, in the absence of such policies, inflation will rapidly subside.
Read 6 tweets
The #deficit #myth #deficitmyth by @StephanieKelton #MMT modern monetary theory
Myth N. 1: The #state should budget like a #household
#RealityCheck : unlike a household, a #SovereignNation, which owns its national #centralbank, issues the #currency it spends
Myth N. 2: #deficit is evidence of #overspending
#RealityCheck: look to #inflation for evidence of over spending
The purpose of #taxes is not to pay for #government expenditures but to help rebalancing the #wealth distribution #MMT
Read 56 tweets
Let’s talk #Venezuela and it’s never ending super hyper #inflation for a second
Thread 👇
1/ According to the consumer price index elaborated by the National Assembly, monthly inflation in #Venezuela jumped to 55.1% m/m in July – thereby taking it back above the hyperinflation baseline of 50% (!)
2/ Under widely accepted definition of hyperinflation proposed by Cagan in seminal study (1956) an episode of this extreme economic phenomenon begins when threshold is 1st crossed but only ends when monthly increase in price level drops below 50% and stays there for at least 1yr
Read 11 tweets
@VOLG_DE_DATA @wmiddelkoop 1) This is a very hard question to answer. US #gold has not been audited since the 1950's and there are rumours that much of the gold in Fort Knox has been replaced by fakes. Rob Kirby claims to "know folks who have copies of the original shipping docs".

marketoracle.co.uk/Article14996.h…
@VOLG_DE_DATA @wmiddelkoop 2) Hence the question to Q, with his interesting replay that the #US has the #gold and that it shall destroy the #FED.

What we know is that currently the #FED is printing dollars #Weimar style, which can be expected to result in #hyperinflation.
@VOLG_DE_DATA @wmiddelkoop 3) Alan Greenspan warned about this a while ago and talked about returning to the #gold standard. Remarkably, he mentioned the time before 1913, when the #FED was established:

marketslant.com/articles/green…
Read 9 tweets
THREAD: As @RepRooney recently told @ACLatAm, the promise & potential of #Venezuela is at risk of being entirely lost to Nicolás #Maduro's dictatorial regime. Under his watch, millions of citizens have fled the country in search of better lives elsewhere. atlanticcouncil.org/commentary/eve… Image
The standard of living in #Venezuela has deteriorated rapidly since the downturn in oil prices in 2013/14. The ensuing economic collapse has evolved to become what's widely seen as the Western Hemisphere's largest humanitarian crisis in modern history. atlanticcouncil.org/blogs/new-atla…
Economic depression, #hyperinflation, ballooning unemployment, shortages, hunger, crime, violence, corruption, insecurity, pollution, ecocide, confusion, disorder,
chaos, fear and despair. These and other words and phrases
have come to define #Venezuela under Nicolás #Maduro. Image
Read 25 tweets
Today @Lagarde takes over at the ECB. Amongst her challenges: dealing with a German public deeply sceptical of ECB policies. In a new paper @LHaffert, @tobirommel and I study the historic roots of this scepticism. Spoiler: it's a misunderstanding. tinyurl.com/y5zex367 (1/n)
To explain German skepticism, commentators often point to the collective memory of the #Hyperinflation in the early 1920s. But why is this still such a strong reference point? We find that many Germans merge it with the Great Depression – a totally different crisis (2/n)
A majority thinks that the hyperinflation and the Great Depression were one and the same crisis. Reminding them of hyperinflation thus triggers images of mass unemployment – and vice versa. (3/n)
Read 12 tweets
1) Why do I keep posting this stuff? 1 word #inflation this is how your hard earned money is losing value every day.
Think of supply vs demand vs value if you increase supplies what does it do to the current supply? It diminishes it's value.

cointelegraph.com/news/the-fed-j…
2) If you have seen #Venezeula with paper in the streets that's worthless you would understand the perils of printing money so would you in #Zimbabwe, #Turkey, #Argentina and #Brazil @RonPaul
3) Printing money is killing off the inherent value of the current supply. So you work hard but tomorrow and the next day your dollar will be worth less and less. Why you should care is a better question then why you shouldn't and why many disregard talking about this @loomdart
Read 8 tweets
My 116 favorite quotes from Money: Sound and Unsound, by Joseph.T. Salerno (2015)
@jtsale @mises #AustrianEconomics #SoundMoney
1. “The idea of sound #money was present from the very beginning of modern monetary theory in the works of the 16th-century Spanish #Scholastics who argued against debasement of the coinage by the king on ethical and economic grounds”
J.T.Salerno
2. “It was #Fisher and not #Keynes who was the true founder of modern macroeconomics with its aggregative reasoning and its central notion of politically managed fiat money”
J.T.Salerno
Read 118 tweets
My 140 favorite quotes from The Ethics of Money Production (2008), by Jörg Guido Hülsmann
1. #Money is omnipresent in modern life, yet the production of money does not seem to warrant any moral assessment”. J.G.Hülsmann
2. “To be sure, central bank representatives are lecturing the public on the importance of business #ethics; but their concerns do not seem to apply to themselves”. J.G.Hülsmann
Read 142 tweets
"people in #Germany at the time they were not all evil people; they were a people who believed in the #government, and that was the crucial mistake..the ideology is not the core trigger, is not the reason why people were behind those views; it's the #propaganda. It's not that ..
.. everyone was racist, it's not that everyone was evil; it's the fact that the government was so adamant about spreading those views that everyone just got behind them (without questioning them), and it's the same with #socialism that came afterwards [well, international
..
.. #socialism (and in particular, the institution of #concentrationcamps) came BEFORE National Socialism, not only afterwards; to wit, institutionalized socialism (within modern history) started with Soviet Union, from 1922 onwards, 11 years before Hitler came to power.
..
Read 15 tweets

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