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Is a gold standard the answer to preventing hyperinflation? Will it happen?

Posted by John Reed on

Steve Forbes book says there cannot ever be inflation if there is a gold standard.
Well, there actually was gold inflation after America was discovered. The conquistadors found lots of gold and brought it back to Europe. That jump in the supply of gold caused temporary inflation I believe.
Minor sidelight: At times in recent hyperinflation, people have used bricks, cigarettes and chocolate as money—the latter two in Germany in 1945. Bricks were used in the shattered USSR.
I have not read a book on inflation in years. Reading this one scared me more and I was already plenty scared.
How to avoid hyperinflation and stop it if it happens is fairly straightforward. The problems is the stage will be taken over by screaming politicians essentially doing their usual thing. All bad things were caused by our opponents having power and us not having enough power. All will be well when we get total power.
In the past, almost all hyperinflations were triggered by war. At present, we have war in Israel and Ukraine and possibly in Taiwan. I suspect if we got war now, that might tip us over into hyperinflation.

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