Hyperinflation and the Destruction of Human Personality | Joseph T. Salerno
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- Опубликовано: 4 фев 2025
- Includes an introduction by Tho Bishop. Recorded in Tampa, Florida, on February 17, 2024.
Special thanks to Liberty Villages and the Shrader family for sponsoring this event.
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02:27 💰 Hyperinflation not only disrupts economic calculation but also undermines the very nature of property, leading to a withering of human personality.
04:54 📉 Rapid inflation increases time preference, eroding the value of productive work, thrift, and sober investment, leading to a social revolution where productive classes are replaced by gamblers and swindlers.
08:50 🏘 The German hyperinflation of 1923 vividly demonstrates how the destruction of money and property leads to a loss of planning ability, disintegration of society, and a shift towards totalitarianism.
12:57 💔 Hyperinflation not only devastates wealth but also shatters self-assurance, moral values, and faith in oneself, leading to a loss of individual identity and societal breakdown.
17:05 🎭 Hitler recognized the moral and social decay caused by hyperinflation and used it to manipulate the German populace, fostering a sense of self-contempt and dependence on the state for salvation.
21:49 📘 Hitler's exploitation of hyperinflation's effects on personality extended to his ideology, where he envisioned a Nazi state built upon the idea of personality, emphasizing obedience and authority from the top down.
22:42 🏛 Hitler's ideology emphasized the dominance of personality over all aspects of society, including economics, advocating for a state that elevates the best minds to leading positions.
23:50 🧠 The German hyperinflation exemplifies the profound impact of property destruction on human personality, highlighting the universal connection between property and personality established by praxiology.
24:17 📚 Understanding the moral and social ramifications of hyperinflation requires interdisciplinary knowledge beyond macroeconomics, as highlighted by scholars like Mises, Hayek, and Rothbard.
Q
And truly evil 😈 men and women also study 📖 this to a T. Then, use it to deliver destruction and seize power, money 💰 and wealth.
Good vs evil remains and peril persists in 2024.
Q ❤
Thank you for these.
Wow. What an amazing and chilling speech. Something I experience daily is a form of anxiety navigating prices to sustain my family , aspirations. Just the internalized thoughts, ambitions and dreams just feel moot and unavailable.
Great talk!
Excellent speech, Dr. Salerno! Just excellent!
This is an amazing discussion. Thank you!
The notion that property is worthless is counter intuitive but makes perfect sense because the money becomes worthless as soon exchange takes place under hyper inflation. That's a scary thought because you could never dig yourself out the hole.
😮I was kid in Yugoslavia in the 80s so concentrating on psychological effects of inflation got my attention.
Government should not do these things so there is 0 chance of inflation - build roads, build hospitals, build schools, provide water, provide electricity, keep citizen records
Our roads are horrendous, water is full of chemicals, public schools are atrocious, government run healthcare facilities underserve patients. The government certainly should not be in charge of any of these.
“someone who sees time as a method of improving their productivity…” - this is a very simple idea which surprisingly evokes derision from other people. “Who does she think she is?!”, they say, “the president of the United States?!”
Some governments desperately try to save their **ses by keeping the money printing bazooka in high gear.
This is why deflationary money leads to human liberty. Money that grows in value protects human dignity. A scarce, deflationary,secure, easily transportable, easily auditable money is what we need to create a free and healthy society. Gold and silver are no longer viable. Bitcoin is.
Bitcoin is just a digital currency. As it is now, it's useful, but not a solution for all because it's not tangible. It's totally dependent on technology, like computers. That doesn't lend itself to freedom or a flexible, useable currency or exchange medium.
Gold is viable.
Good to see the 1950's Territorial Imperative again recognised in economic speak -- the observation that every being, be they insects, fish, birds, primates even plants, all sentient beings needs borders to define their very being.
However, this new recognition seems to been through the politically correct filter of individuals being more important than the group and even have a right to exist outside it. The old ergo cogito sum time waste.
The sooner the west realises it is not I am because I think, but I Am Because We Are, the quicker we can return to our default setting: feudalism.
RFKjr/Shanahan 2024 to bring liberalism and Constitutional liberty principles and sound currency
As a SOUTH AFRICAN graphic designer, using AMERICAN software (Adobe Creative Suite), the monthly price has gone up R15 each month on top of the previous (January R650, Feb R665, March R680), in part because our Leftist Socialist ANC Government has sided with RUSSIA & HAMAS, so the ordinary man in the street suffers, even if our loyalties are the opposite...🇿🇦❤️🇺🇲
Salerno is a bit misleading here... It wasnt the socialist that caused the hyper inflation, It was the repatriations Germany had to pay from the treaty of Versailles, 132Billion, as it was so steep, they chose to just print money and pay it off that way. Hitler solved it by simply deciding not to pay it anymore once is power. TBH, leaving this fact out of his talk is misleading i feel.
Is it a given that there was no other way? What are the actual numbers? Also, did Zimbabwe and Argentina have to pay reparations? It does seem like there is some volition involved in these things.
@@TomTabaczynskiThanks to its industrial base and expertise Hitler's Germany had the option of building a military economy and resorting to an expansionist policy across a Europe not ready nor keen to embark upon another brutal war so soon after the last.
Neither Zimbabwe nor Argentina were in that position.
Hitler was a collective mindset ideologically so very much similar to communism but nationalist, negative nationalist vs what liberals ought to be is positive sovereignty of nations, cooperation with other nations is not against your or their sovereignty and isn’t zero sum.
More excuse-making for socialism.
@@friendlyfire7861 well no, its not, its the facts.
The human personality worked just fine back when our ancestors faced chronic poverty and starvation under the gold standard.
Thats because sound money is honesty. Honesty is trust, and trust is security.
You’ve been lied to about your ancestors. Yes there was times of famine and disease, but the idea that everyone lived in chronic poverty before our economics is a perverted lie
America's best economic times were under the gold standard.