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Olduvai III: Catacylsm
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Hyperinflation is here

Hyperinflation is here Definition: Hyperinflation is the condition whereby monetary authorities accelerate the expansion of the quantity of money to the point where it proves impossible for them to regain control. It ends when the state’s fiat currency is finally worthless. It is an evolving crisis, not just a climactic event. Summary This article defines […]

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The emerging evidence of hyperinflation

The emerging evidence of hyperinflation Note: all references to inflation are of the quantity of money and not to the effect on prices unless otherwise indicated. In last week’s article I showed why empirical evidence of fiat money collapses are relevant to monetary conditions today. In this article I explain why the purchasing power of […]

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Explaining the credit cycle

Explaining the credit cycle This article summarises why the credit cycle leads to alternate booms and slumps. It is only with this in mind that they can be properly understood as current economic conditions evolve. The reader is taken through three monetary models: a fixed money economy, one governed by changes in bank credit, and […]

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James Madison’s Essay on Money

JAMES MADISON’S ESSAY ON MONEY The following is by James Madison, the primary author of the US Constitution and fourth president. For those who wish to get a further view on this, here is a paper from the Cleveland Fed on Madison’s essay: https://www.clevelandfed.org/newsroom-and-events/publications/discontinued-publications/economic-review/1998-economic-review/er-1998q1-james-madisons-monetary-economics.aspx Money Observations written posterior to the circular Address of Congress in Sept. […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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