Inflation
Jim Sinclair

(Editor's Note: I found the following facts posted on Jim Sinclair's jsmineset.com. The data simply documents instances of inflation throughout the world over the past two hundred years. What we all need to understand is that inflation is not a natural economic occurrence. There are those, i.e. Keynesians, that would tell you different. They are lying to you. They are the bad guys. The are on the criminal side of the biggest rip-off ever perpetrated, and you are the victims. Central Bankers everywhere are crooks. They are counterfeiters, and through their actions our lives are slighted, and their's, along with the lives of the slimeballs they work for, enriched. In each case, documented below, vast amounts of value were transferred from the middle class (the only group that produces value), to the parasitic banksters. We work, we save, we build. They don't work. They don't save. They don't build anything. They just steal. In the U.S. our currency has been debased by 95% since 1913. That means that the Federal Reserve, working hand in hand with the government and Wall Street, has stolen 95% of all the value that that the citizens of the United States have created in the past 96 years. You will see the term "QE" (which stands for Quantitive Easing) which is nothing more than a ruse whereby the Dark Side creates vast amounts of money out of thin air, spreads it around amongst themselves through bailouts, excessive salaries and bonuses, and spends it buying up corporations, businesses, commodities, and real estate the world over. As you read through the list below, please realize that in each and every instance, some criminal banksters invented vast amounts of money for their personal benefit, to the detriment of the respective middle class of each country. And you wonder why you have to work so much harder just to stay afloat... - JSB)

A note on the form of inflation coming: It has NOTHING whatsoever to do with consumer demand pull or wage cost push. It will be a currency related item producing hyperinflation in the midst of ugly business conditions.

These conditions have always been the result of QE where there is no practical method of draining, regardless of a political situation, war or now management of perception economics.

Classic examples of this: (From Wikipedia)

Angola

Angola went through its worst inflation from 1991 to 1995

Austria

Between 1921 and 1922, inflation in Austria reached 134%

Belarus

Belarus went through steady inflation from 1994 to 2002.

Bolivia

Bolivia went through its worst inflation between 1984 and 1986.

Bosnia-Herzegovina

Bosnia-Hezegovina went through its worst inflation in 1993

Brazil

From 1986 to 1994, the base currency unit was shifted three times to adjust for inflation in the final years of the Brazilian military dictatorship era.

Chile

Beginning in 1971, during the presidency of Salvador Allende, Chilean inflation began to rise and reached peaks of 1,200% in 1973

China

As the first user of fiat currency, China has had an early history of troubles caused by hyperinflation. The Yuan Dynasty printed huge amounts of fiat paper money to fund their wars, and the resulting hyperinflation, coupled with other factors, led to its demise at the hands of a revolution. The Republic of China went through the worst inflation 1948-49. In 1947, the highest denomination was 50,000 yuan. By mid-1948, the highest denomination was 180,000,000 yuan. The 1948 currency reform replaced the yuan by the gold yuan at an exchange rate of 1 gold yuan = 3,000,000 yuan. In less than 1 year, the highest denomination was 10,000,000 gold yuan. In the final days of the civil war, the Silver Yuan was briefly introduced at the rate of 500,000,000 Gold Yuan. Meanwhile the highest denomination issued by a regional bank was 6,000,000,000 yuan (issued by XinJiang Provincial Bank in 1949). After the renminbi was instituted by the new communist government, hyperinflation ceased with a revaluation of 1:10,000 old Renminbi in 1955.

Free City of Danzig

Danzig went through its worst inflation in 1923. In 1922, the highest denomination was 1,000 Mark. By 1923, the highest denomination was 10,000,000,000 Mark.

Georgia

Georgia went through its worst inflation in 1994. In 1993

Germany Main article: Inflation in the Weimar Republic

Germany went through its worst inflation in 1923. In 1922, the highest denomination was 50,000 Mark. By 1923, the highest denomination was 100,000,000,000,000 Mark. In December 1923 the exchange rate was 4,200,000,000,000 Marks to 1 US dollar. In 1923, the rate of inflation hit 3.25 × 106 percent per month (prices double every two days). Beginning on November 20, 1923, 1,000,000,000,000 old Marks were exchanged for 1 Rentenmark so that 4.2 Rentenmarks were worth 1 US dollar, exactly the same rate the Mark had in 1914.

Greece

Greece went through its worst inflation in 1944-1946

Hungary

Hungary went through the worst inflation ever between the end of 1945 and July 1946

Israel

Inflation accelerated in the 1970s, rising steadily from 13% in 1971 to 111% in 1979. From 133% in 1980, it leaped to 191% in 1983 and then to 445% in 1984, threatening to become a four-digit figure within a year or two.

Japan

After WW II, Japan went through the highest denomination at that time, which was a 75,000,000,000 Yen bank cheque. The Japan wholesale price index (relative to 1 as the average of 1930) shot up to 16.3 in 1943, 127.9 in 1948 and 342.5 in 1951. In the early 1950s, after achieving independence from USA, Japan controlled its own money. Through its rapidly growing export trade, Japan stabilized the Yen quickly.

Madagascar

The Malagasy franc had a turbulent time in 2004, losing nearly half its value and sparking rampant inflation

Mozambique

Mozambique was one of the world’s poorest countries when it became
independent in 1975

Nicaragua

Nicaragua went through the worst inflation from 1987 to 1990.

Peru

Peru went through its worst inflation from 1988 to 1990.

Philippines

The Japanese government occupying the Philippines during the World War II issued fiat currencies for general circulation. The Japanese-sponsored Second Philippine Republic government led by Jose P. Laurel at the same time outlawed possession of other currencies, most especially "guerilla money." The fiat money was dubbed "Mickey Mouse Money" because it is similar to play money and is next to worthless.

Poland

Poland went through inflation (second time) between 1989 and 1991.

Russian Federation

Between 1921 and 1922 inflation in Soviet Russia reached 213%.
In 1992, the first year of post-Soviet economic reform, inflation was 2,520%. In 1993 the annual rate was 840%, and in 1994, 224%. The ruble devalued from about 40 r/$ in 1991 to about 30,000 r/$ in 1999.

Turkey

Throughout the 1990s Turkey dealt with severe inflation rates that finally crippled the economy into a recession in 2001.

Ukraine

Ukraine went through its worst inflation between 1993 and 1995

United States

During the Revolutionary War, the Continental Congress authorized the printing of paper currency called continental currency. The easily counterfeited notes depreciated rapidly, giving rise to the expression "not worth a continental."

Between January 1861 and April 1865, the Lerner Commodity Price Index of leading cities in the eastern Confederacy states increased from 100 to over 9000. As the War of Northern Aggression dragged on both the "Greenback" and the Confederate States of America dollar had less and less value, until they were almost worthless by the last few months of the war.

Yugoslavia

Yugoslavia went through a period of hyperinflation and subsequent currency reforms from 1989 to 1994

Zaire (now the Democratic Republic of the Congo)

Zaire went through a period of inflation between 1989 and 1996.

Zimbabwe

A selection of Zimbabwe Reserve Bank bearer cheques printed between July 2007 and July 2008 (now expired) that illustrate the hyperinflation rate in Zimbabwe. Hyperinflation in Zimbabwe has persisted since the early 2000s, shortly after that country’s confiscation of white-owned farmlandand its repudiation of debts to the International Monetary Fund. Figures from November 2008 estimated Zimbabwe’s annual inflation rate at 89.7 sextillion (1021) percent (i.e. prices double every 24.7 hours). In April 2009, Zimbabwe abandoned printing of the Zimbabwean dollar, and the South African rand and US dollar became the standard currencies for exchange. The government does not intend to reintroduce the currency until 2010.

jsmineset.com