Jimmy Erdmier

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about gotten you a one-kilo loaf of rye bread.) To stop printing would have meant there was so little cash that commerce would have virtually ground to a halt (at least until they came up with an alternate currency). In an inflation spiral, printing money can seem like the prudent choice at the time—but continuing to print money time and time again feeds the inflation spiral until there is no way out.
A Template for Understanding Big Debt Crises
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