30 October 2023
Fiat economies face hyperinflation when central banks, like the Federal Reserve, overprint money. Austrian economic theory warns that such policies may lead to a “crack-up boom”—a severe crash after a fake economic boom fueled by low interest rates and bad investments. The Fed’s continuous interventions prevent necessary market corrections, potentially ending in hyperinflation and a collapsed monetary system. Political resistance to reform points to a looming crisis, suggesting that local self-reliance may become essential.