In this report, I cover the early market action from London on Thursday, July 25th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market, the price of WTI and Brent crude oil and the cryptocurrencies.
Today I look into the nature of hyperinflation, why it happens, how it happens and how one can protect his or her family from the financial and social devastation that it brings about. I will reference "Fiat Paper Money: The History and Evolution of Our Currency" by Ralph T. Foster.
Mr Foster looks back at the events of early 1920s Germany and the culmination of the Weimar Hyperinflation in 1923. The thing that people need to understand, according to Foster, is that hyperinflation is not a gradual process and that it happens suddenly or as Professor Friedrich Kessler said: "like lightning, it struck".
My conclusion is that our current politicians and Central Bankers are no better than those in 1920s Germany or on any other occasion when fiat currencies or paper money collapsed and that with the current renewed move towards loose monetary and fiscal policy one needs to prepare for the eventuality of a worldwide hyperinflationary collapse.
"Fiat Paper Money; the History and Evolution of Our Currency " Ralph T. Foster: https://www.amazon.com/Paper-Money-History-Evolution-Currency/dp/0964306611
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