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Fred:
If we need an unambiguous statement on the causes of hyperinflation, then I
think we can say, without fear of having to qualify our statement to
account for any empirical anomalies, that they are always initially caused
by an excessive amount of money circulating in the economy. The prime
suspect in getting all this redundant money into circulation is, of course,
excessive debt-monetization. Nonetheless, debt-monetization can be used to
feed the normal requirements of a trading system without fear of any
inflation resulting as a natural consequence of this new money. Of course,
this latter case requires a balance between the growing needs of commerce
and the amount of new money created.
Chas
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