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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (67987)	8/23/2007 6:14:25 PM
From: pogohere	Respond to of 116555

During the French Revolution (1789-1799), the Jacobins (the Neocons of the day) had the brilliant idea of issuing securities, called “assignats,” based on the properties (buildings and lands) the government had taken away from the Church and its religious orders. The new securities were quickly “monetized” into fiat money and transformed into readily available cash. This caused a massive hyperinflation and a subsequent deflation. Much of this history is supposedly chronicled in Andrew Dickson White's "Fiat Money Inflation in France", 1876. But as they say, it ain't what you know that hurts you, it's what you know that ain't so. See: Message 23787371