Fiat Paper Money, The History and Evolution of Our Currency

Posted at 5:34 PM (CST) by & filed under General Editorial.

“Hyperinflation is the product of a slow, but continuous loss of a currency unit’s buying power, degraded political expediency motivating economic decision making and total degradation of the business community in the condition of a locked credit base.”
–Jim Sinclair

Ralph T. Foster says:

“While currency collapse is generally sudden and dramatic, it is not the only problem that plagues the world’s floating currencies.

Far more insipid is a currency’s gradual decline in value over time.

This phenomenon has affected nearly every country on Earth; and for the first time in history, it is so commonplace as to be perceived as normal, or even expected. Physical money is no longer something to hold as a long-term security as conceived by Aristotle, but rather a day-to-day medium of exchange. Anyone saving paper currency for the future is bound to gradually lose most of its purchasing power.”

This book, “Fiat Paper Money, The History and Evolution of Our Currency" by Ralph T. Foster is a text that should be studied by all those that claim to be students of markets, history and currency.

Mr. Foster proves historically that a currency that continually loses buying power over a contiguous period of years and enters into a period of significant economic dislocation will implode all of a sudden as in a currency event of hyper-inflation.

This sounds to me like the dollar is coming up for just such an event as this entire crisis is an OTC derivative exported USA product. You might consider obtaining this fine work of Mr. Foster.