Notes

Prologue

1 Ben Bernanke, Remarks before the National Economics Club, Washington, DC, Nov. 21, 2002, http://www.federalreserve.gov/boarddocs/speeches/2002/20021121/default.htm

2 Carmen M. Reinhart, Kenneth S. Rogoff, This Time Is Different: Eight Centuries of Financial Folly (Princeton and Oxford: Princeton University Press, 2009), pp. 204–207.

3 Board of Governors of the Federal Reserve System, http://www.federalreserve.gov/releases/h8/Current/

4 Federal Reserve Statistical Release H.6 Money Stock Measures, http://www.federalreserve.gov/releases/h6/hist/

5 Federal Reserve Bank of St. Louis, http://fraser.stlouisfed.org/publications/ERP/page/7254/download/46604/7254_ERP.pdf

6 Carmen M. Reinhart, Kenneth S. Rogoff, This Time Is Different: Eight Centuries of Financial Folly, p. 207.

7 Federal Reserve Bank of St. Louis, St. Louis Adjusted Monetary Base, http://research.stlouisfed.org/fred2/data/AMBNS.txt

8 Ludwig von Mises, Human Action: A Treatise on Economics, 4th rev. ed. (Irvington-on-Hudson, NY: Foundation for Economic Education, 1998), p. 572.

9 Gordon Tullock, “Paper Money: A Cycle in Cathay.” The Economic History Review, Vol. 9, No. 3 (1957), pp. 393–407; Peter Bernholz. Monetary Regimes and Inflation, History, Economics and Political Relationships (Cheltenham: Edward Elgar, 2003), pp. 52–63.

10 Peter Bernholz, Monetary Regimes and Inflation, p. 8. Bernholz' list does not include Zimbabwe, which made the list with its hyperinflation in 2007–2008. Steve H. Hanke, Alex ...

Get Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.