The chimera of post pandemic, postwar return to monetary normal
“Readers of Mises Wire doubtless count among their New Year resolutions a determination to resist propaganda, and in the monetary sphere this means a readiness to assess in sober-rational mood a full range of scenarios, albeit focusing on what is most likely. We should retain our skepticism about the popular narrative of a return to a monetary normal which never existed under this regime and is unlikely to dawn anytime soon. But we should not exclude altogether way-out possibilities. After all, 2023 is the one-hundredth anniversary of two extreme monetary episodes, one of dark despair and one of great hope—the one hundredth of the German hyperinflation and the fiftieth of the launch (via a free float) of the hard deutsche mark in defiance of dollar monetary inflation.”
USAGOLD note: An alternative view on where we are headed monetarily from a leading economist on the international monetary system and senior fellow at the Hudson Institute…… “Normal for this regime,” he says, “is virulent monetary inflation” – despite what is being said.