He argued that the economic ills of the nation were caused by hard money, and that the cure lay in an abundant supply of paper currency instead of gold.
Demand from investors is only likely to increase if various central banks continue with stimulus programmes which weaken the value of paper currency and increase inflation.
As the paper currency began to circulate it gave an inflationary boost to the economy and interest rates fell.
The euro's creators know that no paper currency can exist forever.
That brings me to the universal fact of inflation which reduces the value of the paper currency from year to year.
Paper currency probably has a limited lifespan because counterfeiters will eventually figure out how to duplicate anything.
Their issues of paper currency were retired at their original purchasing-power values; depreciation was not a serious problem.
The Treasury Department says it plans to redesign our paper currency every 7 to 10 years to keep ahead of counterfeiters.
With paper currency, there is no intrinsic value.
I'm basing my comments about counterfeiting on the pre-Civil War American experience, where a multitude of paper currencies led to a multitude of counterfeiters.
Definition of paper currency in US English:
paper currency
noun
Money in the form of banknotes.
the amount of paper currency in circulation
Example sentencesExamples
He argued that the economic ills of the nation were caused by hard money, and that the cure lay in an abundant supply of paper currency instead of gold.
Their issues of paper currency were retired at their original purchasing-power values; depreciation was not a serious problem.
Paper currency probably has a limited lifespan because counterfeiters will eventually figure out how to duplicate anything.
That brings me to the universal fact of inflation which reduces the value of the paper currency from year to year.
I'm basing my comments about counterfeiting on the pre-Civil War American experience, where a multitude of paper currencies led to a multitude of counterfeiters.
Demand from investors is only likely to increase if various central banks continue with stimulus programmes which weaken the value of paper currency and increase inflation.
The Treasury Department says it plans to redesign our paper currency every 7 to 10 years to keep ahead of counterfeiters.
With paper currency, there is no intrinsic value.
The euro's creators know that no paper currency can exist forever.
As the paper currency began to circulate it gave an inflationary boost to the economy and interest rates fell.