In 1920, economist John Maynard Keynes observed that “There is no subtler, no surer means of overtuning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” Lord Keynes’ observation is as true today as it was 100 years ago. This book discusses the legal history of paper money in the United States and looks at practical solutions to the age-old problem of inflation.
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