/biz/ - Business & Finance

>>22841462
>>22841730

Nazi Germany was a welfare-warfare state. (Picture related.) Just like the Germany of WW1. Read Alasdair Macleod's article for GoldMoney today; very interesting to see that Germany attempted the same welfare-warfare policies twice, i. e. print a lot of money and try to conquer everybody else to make up for it.

"For the paper mark it all started in 1905, when a German economist and leader of the Chartalist movement, Georg Knapp, published a book whose title translated as the State Theory of Money. Thus encouraged, under the direction of Bismarck the Prussian administration financed the military build-up to the war to end all wars by utilising the state’s seigniorage. And when Germany lost, any thoughts of raiding the wealth of the vanquished came to nought. Instead, it was Germany that faced reparations and a post-war crisis. Just as the Fed is responding to the covid crisis today, the answer was to print money. Monetary inflation became the principal source of government finance, just as it is now in America and elsewhere."

https://www.goldmoney.com/research/goldmoney-insights/lessons-on-inflation-from-the-past