Our banks have been naughty and that includes the Australian and New Zealand banks. They have been scamming the system and now that the scam is collapsing they want us to pay for it. One way of doing that is by allowing the money supply to inflate. The process is simple you print money like there is no tomorrow, allow prices to rice uncontrollably and make sure nobody can lend a penny. Whatever money is left gets squeezed out of the population and the economy collapses leaving the poor saps who have just lost every thing to fend for themselves. The bankers go to their holiday homes (Hawaii comes to mind) for a couple of years while their victims are trying to rebuild their lives and then the game begins again.
Want to learn more about it watch this video of a documentary called the Money Masters.
The consequences of pumping out many trillions of marks (or even just the few trillions of dollars now being created by the Federal Reserve) are simply catastrophic. And such policies lead, as Professors Mises and Rothbard taught us, to collapse, war, destruction, starvation, and death.
I had come across Professor Graham’s name on Mises.org, so I suspected the book might offer insights into these matters from a free-market perspective. The copy I bought had languished in a well-known university’s library for about 80 years and then been discarded — since some universities apparently are no longer in the business of preserving knowledge.
Frank Graham (d. 1944) was a Princeton economist. He lived in, as the old Chinese curse has it, “interesting times.” Generally, he supported free markets and free societies during a time when they were under unrelenting attack by jack-booted, collectivist intellectuals of various stripes.