How long can a central bank continue in inflation?
MISES' SIX LESSONS: #4 - INFLATION (Austrian Audible on THE Bitcoin Podcast)
"When a government increases the quantity of paper money , the result is that the purchasing power of the monetary unit begins to drop , and so prices rise. T his is called inflation. "- Ludwig von Mises
- Each of the six Mises lectures will be released as it's own episode in the coming weeks. Make sure to subscribe to "THE Bitcoin Podcast" wherever you listen or watch.
- Download "Economic Policy: Thoughts for Today and Tomorrow"
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2 Probably as long as people are convinced that the government, 3 sooner or later but certainly not too late, will stop printing money and thereby stop 4 decreasing the value of each unit of money.
When people no longer believe this, when they 5 realize that the government will go on and on without any intention of stopping, then they 6 begin to understand that prices tomorrow will be higher than they are today.
Then they begin 7 buying at any price, causing prices to go up to such heights that the monetary system breaks down.
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Probably as long as people are convinced that the government,
sooner or later but certainly not too late, will stop printing money and thereby stop
decreasing the value of each unit of money. When people no longer believe this, when they
realize that the government will go on and on without any intention of stopping, then they
begin to understand that prices tomorrow will be higher than they are today. Then they begin
buying at any price, causing prices to go up to such heights that the monetary system breaks down.
Greetings and salutations, my fellow plebs. My name is Walker and this is the Bitcoin Podcast.
Show notes & resources
"When a government increases the quantity of paper money , the result is that the purchasing power of the monetary unit begins to drop , and so prices rise. T his is called inflation. "- Ludwig von Mises
In this Austrian Audible episode of THE Bitcoin Podcast , Walker reads Lecture 4: INFLATION , from Economic Policy: Thoughts for Today and Tomorrow by Ludwig von Mises, AKA Mises Six Lessons
Each of the six Mises lectures will be released as it's own episode in the coming weeks. Make sure to subscribe to "THE Bitcoin Podcast" wherever you listen or watch.
Download "Economic Policy: Thoughts for Today and Tomorrow"
