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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: Scripts who wrote (595)8/16/2001 3:06:25 PM
From: craig crawford  Read Replies (1) of 1643
 
Exploding Inflation

"When the inevitable consequences of inflation appear and prices soar, [people] think that commodities are becoming dearer and fail to see that money is getting cheaper. In the early stages of an inflation only a few people discern what is going on, manage their business affairs in accordance with this insight, and deliberately aim at reaping inflation gains. The overwhelming majority are too dull to grasp a correct interpretation of the situation. They go on in the routine they acquired in noninflationary periods. Filled with indignation, they attack those who are quicker to apprehend the real causes of the agitation of the market as "profiteers" and lay the blame for their own plight on them. This ignorance of the public is the indispensable basis of the inflationary policy." - Dr. Ludwig von Mises, The Theory of Money and Credit, Chapter 21, 1912.
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