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The banking authorities, whether central or not, "monetize" the deficit, printing money to pay for the government's efforts to survive. The hyperinflation under the Chinese Nationalists from 1939 to 1945 is a classic example of a government printing money to pay civil war costs. By the end, currency was flown in over the Himalayas, and then old ...
Thornton opens his book by explaining his intentions in publishing it. "THE first intention of the Writer of the following pages was merely to expose some popular errors which related chiefly to the suspension of the cash payments· of the Bank of England, and to the influence of our paper currency on the price of provisions."
The shortfall was largely addressed by printing more money. [29] The government's reliance on printing money to fund the war effort led to hyperinflation, with wholesale prices in Shanghai increasing fivefold from September 1945 to February 1946, and then thirtyfold the following year.
We just can't keep printing more money to pay it off. And that's really the problem. We just keep printing money to solve our problems, but we can't go on much longer,” he cautioned.
In Germany between the two world wars, inflation rose to such a point in the early '20s that a loaf of bread cost a million or more marks. Cities and townships printed their own money in a ...
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Debt monetization or monetary financing is the practice of a government borrowing money from the central bank to finance public spending instead of selling bonds to private investors or raising taxes. The central banks who buy government debt, are essentially creating new money in the process to do so.
Tony Dwyer, Canaccord Genuity. Sr. Managing Director & Chief Market Strategist joins the On the Move panel to discuss the economic reopening rotation.