from Armstrong Economics:
With hyperinflation they ASSUME the cause is an increase in money supply. We have just seen the Fed increase money supply by $3 trillion without inflation. This alone proves that the theory is dead wrong. We have spent tens of millions of dollars building databases on monetary history. We did not assume anything. This research has been conducted the same as Adam Smith – observe and record. Some people are just so convinced that money must be tangible and not paper that no matter what you show them they refuse to believe because they are a fixed entity incapable of adapting.
Paper money has been around since the 1200s and in ancient Egypt money was receipts for grain for thousands of years until conquered by Alexander the Great is 334BC. The premise is the same as social benefits for its value is entirely dependent upon your belief. To some you say social security will collapse and they ask where is you tinfoil hat. Government to them is like God – always was and always will be. They do not allow themselves to dare question what if, because they have no idea what they would do. People go to college to get that piece of paper yet rarely do what they majored in during school. It is just a piece of paper that shows you went to school – that’s it.
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