What would you expect would happen if you handed a printing press to someone in the street and told them that it was perfectly legal to print as much money as they wanted? Would you be surprised if they printed so much money that money became worthless?
Well, that's exactly the privilege that governments have, and they're abusing it exactly as you'd expect anyone would, and currencies are heading for worthlessness exactly as you'd expect.
What, about this obviously visible process, is so hard to understand? It's happened over and over throughout history. Why is there this perennially recurring denial? Is it that we trust our governments to be honest? Or is the process too slow to be noticed? Or do we think that if our friends and neighbours ignore it, we should too?
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