Tradefair & Financials
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And I donr want a description of a situation in a third world country, I mean a madern economy thats actually suffered it.
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define "modern"
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'And I donr want a description of a situation in a third world country'
That is such a telling comment. Not taking a shot at you, but this attitude of 'it can't happen here' as if we're special in some way. It has happened in Argentina (great blog here from an Argentine - ferfal.blogspot.com/ - he talks about people selling their jewellery by the link to buy food) and Zimbabwe (search on youtube for hyperinflation Zimbabwe). Also, it;s not modern but google 'America continental currency hyperinflation'. There's a phrase of 'not worth a Continental' You can see where that comes from. |
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the reason is not because it can not happen here, I wanted to do a comparison and think comparing to a third world would not good.
Modern as in recent times say 10 years. |
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I am not saying anythinf posted is wrong, just for me feel that it would take a lot more for this to happen but if it does it will not be confined to just UK so would be breaking new ground financially.
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My favorite example is Yugoslavia 1989-94. Cigarettes became the most commonly accepted medium of exchange. Many other lessons there too but I don't want to bore you.
The most "modern"/recent (last ten years as you define it) are: Belarus is on the doorstep again (previously 1999-2000), their currency has lost 287pc of it's value since Jan. 2011, and of course Zimbabwe (2004-2007) were the most recent. Others examples just prior include: Bulgaria 1996-1997 Ukraine 1995-1996 Georgia 1994-1995 Romania 1998-2000 Zaire 1992-1996 Poland 1989-1991 Bosnia 1990-1992 Peru 1990-1991 Nicaragua 1987-1990 there's probably others too if you spend more time researching |
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One last thought. The ONLY currency that matters is the USD. Keep that in mind when you are trying to assess the prospects of hyperinflation that is not localized to a single economy or country.
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how will the usd get us into hyperinflation.
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I'll post a 10,000 word response to your question as soon as I get a chance
 It's not the USD that will get us into hyperinflation, it's monetizing the massive USG deficits once UST buyers go on strike that will get us into hyperinflation. It's complicated.  |
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'When the United States sneezes, the world catches a cold'
Bernanke swore under oath he wouldn't monetise their debt but he is. They have no other option. |
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Spot on.
He has, he is (I'm convinced he is right NOW surreptitiously - I was thinking of doing a post about it) and he will again soon. Like you said, THERE.IS.NO.OTHER.OPTION. |
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if brains were made of dynamite, the hyperinflationists would not be able to blow their nose.
 i see you mentioned all the biggies there melly-nicaragua, zaire, georgia  what a turkey. |