"There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." - John Maynard Keynes, The Economic Consequences of the Peace, 1919.
Keynes wrote that to warn about the risk of inflation in Germany and its potential consequences -- years before high rates of inflation led to the failure of the German mark, the collapse of the Weimar republic, the rise of dangerous ideologues (the Nazis), and ultimately, World War II.
If Turkey doesn't get inflation under control, it will implode.
Keynes wrote that to warn about the risk of inflation in Germany and its potential consequences -- years before high rates of inflation led to the failure of the German mark, the collapse of the Weimar republic, the rise of dangerous ideologues (the Nazis), and ultimately, World War II.
If Turkey doesn't get inflation under control, it will implode.