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  • If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.

    Ludwig Von Mises (1978). “On the Manipulation of Money and Credit”, Dobbs Ferry, N.Y. : Free Market Books