Re: Can Someone expand on this Hoppe Quote

mahsah — Wed, 13 Oct 2010 19:46:16 GMT

Here's what I think he's saying:
When governments artificially manipulate currency (inflate), they cause a transfer of wealth (for example, from creditors to debtors, and from producers to the government [assuming that the new money is spent by the government first]). If other countries use this currency as a reserve, then they are subject to this as well.

Can Someone expand on this Hoppe Quote

Jeremiah Dyke — Wed, 13 Oct 2010 08:04:56 GMT

Internally, it will most likely encounter no resistance whatsoever.

The government itself will be satisfied with this solution. For once its

own currency is employed as a reserve currency by foreign banks on

which they then pyramid their various national paper monies, then it

becomes possible for it to engage in an almost costless expropriation of foreign property owners and income producers without having to fear contractive consequences. Similarly, its own banking and business elite is ready to accept such an arrangement, because they, too, can thereby safely participate in foreign exploitation. Banks in particular are enthusiastic. And the public is largely ignorant of what is happening, or considers the exploitation of foreigners minor as compared to internal problems.

https://mises.org/books/economicsethics.pdf page 108

Economics Questions

Re: Can Someone expand on this Hoppe Quote

Can Someone expand on this Hoppe Quote