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POPSDrowning in Debt This is from Ross Perot's site (remember him?). One of the comments at the site that I thought was really good: "Our dollar is backed by faith, how much faith is left? Sheesh, they’re going to run out of paper, granted it’s all electronic transfer so maybe not. But man, I just don’t see how catastrophic inflation isn’t a forgone conclusion at this point."
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POPSExcerpt From Fiat Money Inflation in France So much for the poorer people. Typical of those esteemed wealthy may be mentioned a manufacturer of hardware who, having retired from business in 1790 with 321,000 livres , found his property in 1796 worth 14,000 francs. For this general distress arising from the development and collapse of "fiat" money in France, there was, indeed, one exception. In Paris and a few of the other great cities, men like Tallien, of the heartless, debauched, luxurious, speculator, contractor and stock-gambler class, had risen above the ruins of the multitudes of smaller fortunes. Tallien, one of the worst demagogue "reformers," and a certain number of men like him, had been skillful enough to become millionaires, while their dupes, who had clamored for issues of paper money, had become paupers. The luxury and extravagance of the currency gamblers and their families form one of the most significant features in any picture of the social condition of that period.
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