[Skybird]

Something absolutely profound about inflation:

"Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank notes in circulation and the quantity of bank deposits subject to check. But people today use the term `inflation' to refer to the phenomenon that is an inevitable consequence of inflation, that is the tendency of all prices and wage rates to rise. The result of this deplorable confusion is that there is no term left to signify the cause of this rise in prices and wages. There is no longer any word available to signify the phenomenon that has been, up to now, called inflation. . . . As you cannot talk about something that has no name, you cannot fight it. Those who pretend to fight inflation are in fact only fighting what is the inevitable consequence of inflation, rising prices. Their ventures are doomed to failure because they do not attack the root of the evil. They try to keep prices low while firmly committed to a policy of increasing the quantity of money that must necessarily make them soar. As long as this terminological confusion is not entirely wiped out, there cannot be any question of stopping inflation." - Ludwig von Mises

He called inflation "an unworkable fiscal policy". And the president of the Reichsbank in Germany in the mid and late 20s of the last century fell exactly into this trap and misunderstood the terms, and in order to fight high prices and helkp worker to get along pumped out more money to the crowds. We all know how it ended.

The ECB today does exactly the same, so do and did the other centrla banks. Nobody has a knoweldge for what von Mises says, althogh it is so very profound and elemental. This is part of most basic economic on 1 0 1.

The consequences of respecting this and actign accordngly would limit the reach of what staes, parties and politicians can do and then get away with, at the cost of later generations. Thjats why govenrment tell you that ifnlation is wnated, must be controlled, and is positive. No, it is not, never was, never will be. Its completely illogical to claim so. Keeping to these nonsense claims is living evidence for that the idiots running state financial and economic politics have absolutely no clue about what they are doing there. Or they know it but keep on doing the wrong thing, then its rightout malice. Gangsterlagarde and Criminaldraghi being good exmaples. Thats why I call them this way, because thats what they and their collegues are: gangsters and criminals.

The car is so deep in the swamps now that not even the upper tip of the roof antenna sticks out anymore, so do not ask me how to get it out there without making yourself wet and getting dirty hands. The desaster cannot be avoided, because it already has been completed. What now comes is not the desaster, but its symptoms and consequences. With debt loads, Corona, collapsed supply chains and war all coming together for a perfect storm, each of them serving as a catalysts accelerating things.

I talked of this since many years, haven't I. And now it has begun.


Edit. I am not certain. The currency units (I do not call FIAT money a money) that have been created and handed out, must be collected and destroyed again. The number of currency units in ciruclation must be reduced, dramatically. So maybe it might help to hand out coupons for the basic goods and basic supplies of ordinary life, instead of paying out money ("Oh, that is so against human dignity, we cannot do that!") And instead of prohibiting the buying of things or rationing, auctions on certain, especially industrial comodities, might be an idea worth to consider, so that companies can and must weigh themselves what worth certain things - energy for exmaple - has for them, or whether they find workarounds and innovations so that they do not need to buy needed stuff for high prices ("Oh, that is so coldhearted and socially inuzst to do, we cannot do that!") . Finally, companies that can not do either the one or the other must be allowed to go bancrupt and leave the market competition. The extremely high rate of zombie companies, which has exploded further during the Lockdowns, which hangs like an increasingly heavy millstone around the neck of the competitive companies, must be dramatically cut back. The zombies have now started to pull the others down the abyss along with themselves. Too much burden is too much burden. ("Oh, that will cost jobs [hahaha, you suckers call that jobs? I call it occupational therpay to hide the economic symptoms] we really cannot do that!")

Of course, no government in the West will do any of these things. Instead they will paint the New Money Theory in new gold and dance around it. Although it is nothing than old lousy wine in new bottles. It poisended the drinker back then, and still does so today. In times of pain, the false messiahs appear and travel across the country, a rat tail of people in their wake.


Well, only panic on the Titanic. Happy sinking. Thanks but no thanks for pulling me down alongside with you. I am not grateful.