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The PM is opened now.

The transfer to new aimoo will take less time than estimated before by testing recently. So we decide to close the old Aimoo until we are prepared in everything, you can use old aimoo before it.


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Title: Causes of hyperinflation
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Knightly
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(Date Posted:07/08/2018 11:29 PM)
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very hyperinflation in history has been caused by foreign debt service collapsing the exchange rate. The problem almost always has resulted from wartime foreign currency strains, not domestic spending.

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alaskaone
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RE:Causes of hyperinflation
(Date Posted:07/09/2018 9:59 AM)

I'm thinking that's not entirely accurate, Knightly.  It appears to be saying, essentially, that borrowing a shitload of money you can't afford to repay and then attempting to repay it by printing up vast quantities of paper to repay those debts isn't the fault of the nation doing the borrowing and printing.

Or am I mistaken?

The most recent example of hyper-inflation is Venezuela.  No war.  No debt.  No lack of ability to legitimately create wealth via natural resources or human ingenuity.  


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Reply To alaskaone
(Date Posted:07/10/2018 8:02 PM)

Reply to alaskaone (07/09/2018 9:59 AM)

I'm thinking that's not entirely accurate, Knightly.  It appears to be saying, essentially, that borrowing a shitload of money you can't afford to repay and then attempting to repay it by printing up vast quantities of paper to repay those debts isn't the fault of the nation doing the borrowing and printing.

Or am I mistaken?

The most recent example of hyper-inflation is Venezuela.  No war.  No debt.  No lack of ability to legitimately create wealth via natural resources or human ingenuity.  



currency exchange markets can drive down a nation's currency. which means that nation would have to borrower more. don't forget the effect compound interest rates have. some countries that rely on oil exports got burn when the price of oil dropped. 

Chávez didn't plan ahead in the event the price of oil would drop, which it did. 

Venezuela has a limited national railway system, which has no active rail connections to other countries. The government of Hugo Chávez tried to invest in expanding it, but Venezuela's rail project is on hold due to Venezuela not being able to pay the $7.5 billion[clarification needed] and owing China Railway nearly $500 million.

https://en.wikipedia.org/wiki/Venezuela#Shortages

projects like the would improve venezuela's economy if the oil bubble had lasted. venezuela had to pay off loans to other countries as well as having money for its internal economy. that nation had to import much of its consumer goods. americans haven't had to face the same level of shortages that nation have to face. 


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Reply To Knightly
(Date Posted:07/12/2018 12:29 PM)

Reply to Knightly (07/10/2018 5:02 PM)

I'm thinking that's not entirely accurate, Knightly.  It appears to be saying, essentially, that borrowing a shitload of money you can't afford to repay and then attempting to repay it by printing up vast quantities of paper to repay those debts isn't the fault of the nation doing the borrowing and printing.

Or am I mistaken?

The most recent example of hyper-inflation is Venezuela.  No war.  No debt.  No lack of ability to legitimately create wealth via natural resources or human ingenuity.  

currency exchange markets can drive down a nation's currency. which means that nation would have to borrower more. 

Why?  While Venezuela's primary export was oil.

don't forget the effect compound interest rates have. some countries that rely on oil exports got burn when the price of oil dropped. 

Were the oil industry not nationalized by the Venezuelan government... why would it matter?

Chávez didn't plan ahead in the event the price of oil would drop, which it did. 

That, once again, seems to argue against the wisdom of nationalization.

Venezuela has a limited national railway system, which has no active rail connections to other countries. The government of Hugo Chávez tried to invest in expanding it, but Venezuela's rail project is on hold due to Venezuela not being able to pay the $7.5 billion[clarification needed] and owing China Railway nearly $500 million.
https://en.wikipedia.org/wiki/Venezuela#Shortages

That, once again, seems to argue against the wisdom of nationalization.  Were private industries to decide railways were a good idea, the burden of construction and maintenance would be on them... not the government.

projects like the would improve venezuela's economy if the oil bubble had lasted. 

Boondoggle projects like an unneeded railway don't really improve an economy aside from a temporary cash cow for politically connected construction companies.  How do I support that assertion?  Well, Am-Trak is a good example.  So is the California project for a high speed train from LA to SF.   

venezuela had to pay off loans to other countries as well as having money for its internal economy.
Are you sure about that?  It appears a case of political corruption, mismanaging of money and resources.

 that nation had to import much of its consumer goods. 
Are you sure about that?

americans haven't had to face the same level of shortages that nation have to face. 
Well, that's certainly true.  Why?  We're 21 trillion dollars in debt.  We have far more people.  We have far more generous welfare programs.  We have natural disasters and endless wars.

Why them and not us?

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The advantage of insinuations over hard arguments is that they bypass critical thought. No one can respond precisely to a charge that is utterly vague or to accusers who will envelope any reply in a poisonous fog of further insinuations. ~ David Warren, The Guardian

There was a time when there was enough freedom that it hardly mattered which brand of crooks ran government. That has not been true for a long time and that captures an important point. The more powerful the government becomes, the more people are willing to do in order to seize the prize, and the more afraid they become when someone else has control. ~ Glenn Harlan Reynolds

“The urge to save humanity is almost always only a false-face for the urge to rule it. Power is what all messiahs really seek: not the chance to serve.”
― H.L. Mencken

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