“Humans have been screwing up money for centuries, beginning with China’s printing of jiaozi in the 10^th century. History is littered with episodes of hyperinflation, but my favorite is that of revolutionary France. France’s hyperinflation began as all hyperinflations do: the state printed too many assignats (pictured below), and they rapidly lost their purchasing power. French citizens sought alternative stores of value and mediums of exchange, as any intelligent person would. The French government, correctly perceiving this as a threat to its financial hegemony, reacted violently.”

http://www.caseyresearch.com/cdd/inflation-robbing-you-since-the-10th-century

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