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> Inflation kills the middle class who was on the way up. It can be argued it was the hyperinflation of the early 1920s that radicalized a lot of people in Wei

> Inflation kills the middle class who was on the way up. It can be argued it was the hyperinflation of the early 1920s that radicalized a lot of people in Weimar Germany. It was the driving force helping the National Socialist German Workers‘ Party into power. Tragically, inflation policy was inflicted onto the Germans by the early Weimar governments supported by moderate political forces — not the communists or Nazis — in an effort to pay war reparations. In the end the very champions of liberty and democracy — due to their economic illiteracy — sabotaged and ultimately destroyed their project transforming Germany into a modern peace-loving society. Hopefully, this taught a lesson to their intellectual heirs or didn’t it?

imtringued 5y ago
You're wrong. Deflation caused both world war one and two. There is quite an interesting german book called Das Experiment von Wörgl where literally every single town in Austria and Germany was struggling with mass unemployment except this tiny 400 people town known as wörgl. There was no inflation or deflation, no money printing, no ddeficit spending. Just a small demurrage fee. Taxes were paid ahead of time. A brdige was built. Multiple streets were paved unemployment was low. There simply was no crisis. Then the central bank banned the experiment and the usual problems instantly came back. Also, nobody is learning from this experiment. Nobody on this planet tries to create a money system that is actually sustainable and free of crisis, not even the marxists. The reason why the ancient egyptians had such an advanced culture is that they understood money better than us.
- whakim 5y ago
  > Deflation caused both world war one and two. There was no deflation (or inflation, really) prior to World War I. Prior to WWI, most countries pegged their currency to either silver or gold at a fixed rate of exchange which meant that inflation was both extremely low and extremely predictable. The "experiment" you're describing (no inflation, no money printing, no deficit spending) basically describes the way all governments operated prior to the early 20th century.

imtringued 5y ago

You're wrong. Deflation caused both world war one and two. There is quite an interesting german book called Das Experiment von Wörgl where literally every single town in Austria and Germany was struggling with mass unemployment except this tiny 400 people town known as wörgl. There was no inflation or deflation, no money printing, no ddeficit spending. Just a small demurrage fee. Taxes were paid ahead of time. A brdige was built. Multiple streets were paved unemployment was low. There simply was no crisis. Then the central bank banned the experiment and the usual problems instantly came back. Also, nobody is learning from this experiment. Nobody on this planet tries to create a money system that is actually sustainable and free of crisis, not even the marxists. The reason why the ancient egyptians had such an advanced culture is that they understood money better than us.

whakim 5y ago
> Deflation caused both world war one and two. There was no deflation (or inflation, really) prior to World War I. Prior to WWI, most countries pegged their currency to either silver or gold at a fixed rate of exchange which meant that inflation was both extremely low and extremely predictable. The "experiment" you're describing (no inflation, no money printing, no deficit spending) basically describes the way all governments operated prior to the early 20th century.