Polleit: The Fiasco of Fiat Money

Grand Grocery – Food Prices in 1942 / Flickr.com *

“(…) mainstream economists consider the concept of fiat money as an economically and politically desirable, acceptable, and state-of-the-art institution.”
“Fiat money is inflationary; it benefits a few at the expense of many others; it causes boom-and-bust cycles; it leads to overindebtedness; it corrupts society’s morals; and it will ultimately end in a depression on a grand scale.”  Thorsten Polleit

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