> Increasing the money supply by a great deal doesn't always lead to inflation, but nearly every case of extreme inflation coincided with a large increase in th

> Increasing the money supply by a great deal doesn't always lead to inflation, but nearly every case of extreme inflation coincided with a large increase in the money supply. Increasing money supply though is an effect of another cause: * https://clintballinger.wordpress.com/2021/01/12/the-myth-of-hyperinflation/ https://clintballinger.wordpress.com/2021/01/12/the-myth-of-... Amongst others, the above article cites Roche: > In this paper I will argue why the common misconception that “inflation is always and everywhere a monetary phenomenon” cannot be used to explain most historical hyperinflations. I will argue that “money printing” is often the response to exogenous and unusual events and not the direct cause of the hyperinflation. * https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1799102 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1799102 Further, Friedman, as a Monetarist, assumed the velocity of money is/was constant, which is definitely the case: * https://fred.stlouisfed.org/series/M2V https://fred.stlouisfed.org/series/M2V Keynesians generally say that V is not constant, and the evidence supports their view.