quote · Legacy record
It is the beginning of the 'demonetization' of the notes. The process is hastened by its panic-like character. It may be possible once, twice, perhaps even three or four times, to allay the fears of the public; but eventually the affair must run its course and then there is no longer any going back. Once the depreciation is proceeding so rapidly that sellers have to reckon with considerable losses even if they buy again as quickly as is possible, then the position of the currency is hopeless.
It is the beginning of the 'demonetization' of the notes. The process is hastened by its panic-like character. It may be possible once, twice, perhaps even three or four times, to allay the fears of the public; but eventually the affair must run its course and then there is no longer any going back. Once the depreciation is proceeding so rapidly that sellers have to reckon with considerable losses even if they buy again as quickly as is possible, then the position of the currency is hopeless.
Approximate author period: c. 1927 AD · modern
Meaning not yet available
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Begin with source-checked readings and explanations ↗Attribution & collection notes
- Author or tradition
- Ludwig von Mises
Attribution: attributed - Country attributed
- Not established
A country attribution does not establish the earliest origin. - Historical period
- Approximate author period: c. 1927 AD · modern
Approximate author-period anchor from life dates 1881 to 1973; Wikidata Q84233, https://www.wikidata.org/wiki/Q84233 (accessed 2026-10-08). Not a quotation composition date.
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- Contributor-provided quotation collection
Supplied reference C; CSV row 119642; supplied attribution, independently unverified
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