Frances Coppola, a CoinDesk columnist, is a freelance writer and speaker on banking, finance and economics. Her book, “,” explains how modern money creation and quantitative easing work, and advocates “helicopter money” to help economies out of recession.
Fiat currency always fails. The Federal Reserve’s ever-increasing balance sheet is a sign we are in the end times for the U.S. dollar. Eventually, all that money printing will cause runaway inflation. The dollar will go up in flames, and with it, the U.S. economy.
I have heard this line of argument many times over the last decade. In the aftermath of the 2008 financial crisis, it was usually advanced by people who wanted the return of the gold standard – “goldbugs,” as they are often known. More recently, hardliners have joined the chorus. Now, in these extraordinary times, even some conventional money managers are predicting hyperinflation. “,” they say, and mutter about wheelbarrows and currency wars.