Tag Archives: Mises
Oct 13, 2008Posted by on
The credit expansion boom is built on the sands of banknotes and deposits. It must collapse.
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved”.
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