What the Hyperinflationists do not understand is that government is always about government. They assume government will simply honor its promises and print into oblivion. It just never works that way. You are ALWAYS the enemy. Senator Alan Simpson of Wyoming, the Co-Chair of Obama’s deficit commission, made a slip of the tongue and for once spoke the truth – the truth about how government sees the people. I get to witness this all the time Behind the Curtain. Just as the Roman Senators said give them circuses (sports) and bread, and they will leave us alone, nothing has changed in 2000 years. Most men can tell you what team won what sport. Some can tell you the names of ever person on a team. Ask them who is their local representative in government, and they are dumbfounded.
In politics they get everyone worked up over abortion, gay rights, and illegal aliens, but never mention anything about how their promises are never kept. Indeed, they turn vicious whenever a citizen actually asks for what they are entitled to. Alan Simpson spoke the truth. He called senior citizens the Greediest Generation as he compared “Social Security” to a Milk Cow with 310 million teats.
Well, they promise that they “feel our pain”, tax our money, promise to give us back three times as much, and when they can turn on us for having the audacity to actually expect them to honor their word.
So sorry. The hyperinflation scenario assumes way too much besides lacking the historical empirical support for a single core economy that has ever been extinguished through hyperinflation. Government ALWAYS, and without exception, turns against its own people. Why do you think there is revolution? They will NEVER print into oblivion, they will berate us for daring to expect what they promised. They will NEVER honor what they say, will default, change the rules, and even send in the troops against us to retain power.
They will not honor their promises. American seniors nearing retirement found the goal posts for full retirement were moved from age 65 to age 67. They are looking to move it again to 69 to 70 on the theory the life-expectancy has increased. The life-expectancy was 65 when the created social security. They always figured you would die before collecting very much. An that was from the beginning.
They will sooner bribe some think-tank to produce a bogus study that supports that you will now live 20 years longer than in 1932 and they will attribute that to themselves, and then justify moving retirement age well into the 70s and tell you early retirement will be 75.
They all know in Washington and Brussels, a fool and his money are quickly parted. Guess who plays the fool?
The said part, this is like watching a Shakespearean play. It’s the same plot for centuries.