Currency stabilization requires hard cap on issuance: cap must be credible and enforced. The Rentenmark success was not just the backing but the strict quantity limit. Excess money printing with ‘backing’ still creates devaluation.
Currency stabilization requires hard cap on issuance: cap must be credible and enforced. The Rentenmark success was not just the backing but the strict quantity limit. Excess money printing with ‘backing’ still creates devaluation.