Author Topic: Advice from 1990 Romanian Hyper Inflation  (Read 650 times)

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Offline Weisshaupt

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Offline Libertas

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Re: Advice from 1990 Romanian Hyper Inflation
« Reply #1 on: November 17, 2021, 03:55:09 PM »
Damn good, Weisshaupt.  Sadly, people forget or are outright ignorant of the past, even the recent or current past.  Romania, most people couldn't find it on a map!  Venezuela?  Idiots like donkey-teeth AOC praise it.  Zimbabwe?  A model state for social justice for racist genocidal imbeciles.  Lebanon?  (crickets)

People who fail to learn from the past enable it to happen again...and make it worse.

I like the "food, water, energy, security, wealth preservation, community & shelter" mantra.  People need to do what they can to address all seven.

IMO food, water, energy, security are tied to shelter...and most having family as their "community" will reside there and pool their resources ("wealth") and their skills to address all of the above.  For wealth preservation she talks about precious metals (and he does too, but his statements involve off-site caches and perhaps needing to invest in a forge to genericize things) but other barter goods and services fall into this as well. 

And I like the "no safe haven" for fiat he talks about.  And in an inflationary environment it is important to flip fiat into tangible "wealth" as soon as possible and to stay out of "the systems".  And having real estate now you can hold onto.  Stay away from the rampant speculation, every tumultuous economic event breeds a plague of scams.  Last happened here on a large scale during the great depression.  But isolated scams and ponzai schemes have popped up since.

We are seeing all the signs right now with big shot individuals and companies harvesting wealth...and when governments join the theft then things get real spicy. 

Interesting he sees the most logical course being deflationary followed by inflationary.
We are now where The Founders were when they faced despotism.