Hyperinflation Quotes

• Hyperinflation can take virtually your entire life's savings, without the government having to bother raising the official tax rate at all.

  Thomas Sowell

  Government, Saving, Taxes

  60 Copy quote

• By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

  John Maynard Keynes

  Money, Power, Government

  John Maynard Keynes (2016). “The Economic Consequences of the Peace”, p.121, Skyhorse Publishing, Inc.

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• The Fed has the ability to put money out, it's got the ability to take money back in, and if they don't do that, we will have hyperinflation worse than we had in 1980 and 1981.

  Chuck Grassley

  Feds, Ability, Ifs

  61 Copy quote

• Hyperinflation is not going to happen in this country, will never happen... The Fed putting so much money into the system is not going to create the risk of hyperinflation in the future. We have a strong independent Federal Reserve with a very strong mandate from the Congress, and they will do what's necessary to keep inflation low and stable over time.

  Timothy Geithner

  Country, Strong, Independent

  "This Week" with George Stephanopoulos, abcnews.go.com. March 29, 2009.

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• The best way to destroy the capitalist system is to debauch the currency.

  Vladimir Lenin

  Interesting, Distribution Of Wealth, Way

  "Lenin's Lesson for Frequent Fliers" by Matthew C. Klein, www.bloomberg.com. September 26, 2013.

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• There is a big logical jump between acknowledging the destructive nature of hyperinflation and arguing that the lower the rate of inflation, the better.

  Ha-Joon Chang

  Arguing, Logical, Bigs

  Ha-Joon Chang (2007). “Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism”, Bloomsbury Press

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• The United States has experienced high rates of inflation in the past and appears to be running the same type of fiscal policies that engendered hyperinflations in 20 countries over the past century.

  Laurence Kotlikoff

  Running, Country, Past

  "US 'could be going bankrupt'" by Edmund Conway, www.telegraph.co.uk. July 14, 2006.

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• The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.

  Henry Hazlitt

  Taken, Liberty, Gold

  14 Copy quote

• Businesses that have gone through an episode of hyperinflation become understandably alert to the threat of it: at the first hint of inflation, they're likely to increase prices, since they've learned that if they don't, and inflation hits, their businesses will be wrecked.

  James Surowiecki

  Gone, Hints, Firsts

  "Change We Can’t Believe In" by James Surowiecki, www.newyorker.com. June 8, 2009.

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• The Fed is pushing a variety of workarounds that would inject trillions in new money into the economy while bypassing the banking system altogether. Time will tell whether or not this will succeed. Meanwhile, a serious danger lurks around the corner. Once the recession is over, the lending will start again. With fractional-reserve banking and limitless supplies of cash on hand, we will likely see the overall price trends reversed, from deflation to inflation to possible hyperinflation.

  Llewellyn Rockwell

  Hands, Banking, Cash

  5 Copy quote