Is our economy on the verge of hyperinflation? Join the Mises Circle to discuss Thorsten Polleit's "Hyperinflation, Money Demand, and the Crack-up Boom" for a look at how money can be destroyed overnight. Find the article here: http://mises.org/daily/4016.
Mises and Rothbard saw that government-controlled fiat money can endure inflation without destroying the money. That is, unless people believe the central bank will expand the money supply at ever-greater rates. At this point, the crack-up boom will unfold, and the fiat money is doomed to be worthless scraps.