Mises Daily
Author:
Thorsten Polleit
Online Publish Date:
[An MP3 audio version of this article, read by Floy Lilley, is available for free download .] In the postwar hyperinflation, banknotes were so worthless that they were discarded like trash. (Hungary 1946) Increasing “Excess Reserves” The demise of fiat-money regimes around the world has become unmistakable. They can only be kept alive by central