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nickff 4 hours ago

Notably, the 'massive inflation' was a rate of 1-1.5% per year...

AnimalMuppet 4 hours ago | parent [-]

Which, for the gold standard, is still rather shocking.

SoftTalker 3 hours ago | parent | next [-]

Well only with a fairly fixed amount of gold available. If suddenly a vast new supply of gold is discovered, its not shocking that there would be inflation.

colechristensen 2 hours ago | parent | prev [-]

Since the industrial revolution productivity has actually been increasing and automation continues to make this happen.

If you don't have a mechanism for productivity increase matching your inflation it's just making whoever is creating the new money temporarily proportionally wealthier until the money spreads everywhere.