Financial Sense Newshour recently interviewed When Money Dies author, Adam Fergusson to discuss the Weimar hyperinflation of the 1920s and the inflationary dangers facing us today.
There are so many key concepts on the nature of inflation and its societal impacts in this interview, that I won't attempt to repeat them all here. However, there is one comment Fergusson makes early on in the discussion that is highly relevant to our current situation, and it pertains to the high level of debt we see in the US and other developed nations. Here it is:
"Generally speaking, inflation is a hidden tax, and it is a way whereby a government repudiates its public debt".
Check out the full interview to hear why Fergusson's recently reprinted book is so relevant to the economic discussions of today. When you hear constant debate over the possible outcomes of quantitative easing (QE) and the problems of high unemployment and rising costs of living, you'll know it's a sound idea to study economic history and learn from the lessons of the past.
You can also find a great deal of insight on the nature of inflation and the lessons from the Weimar hyperinflation in the related posts linked below.
Related articles and posts:
1. When Money Dies by Adam Fergusson: read it online - Prudent Investor.
2. Dying of Money: FSN 4 part series on inflation - Finance Trends.
3. FT interviews Adam Fergusson: When Money Dies - FT.com.