Deflation leads to liquidity and solvency crises which are then followed by either monetary reform or hyperinflation.

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. — Ludwig von Mises

SGI Buddhist, Loves Irish and Latin American Literature, History buff, knows a great deal about Medicare

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