Monetary inflation became a thing for the first time since Roman days — a much easier trick with printed paper banknotes than with silver coins — but the effect was the same: the evaporation of wealth (which is what money supposedly represents).
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About James Howard Kunstler
James Howard Kunstler was a contemporary American writer, social critic, blogger. James Howard Kunstler is an American writer, social critic, public speaker, and blogger known for his analysis of urban development, suburbanization, and energy issues. Born in New York City to Jewish parents, he gained prominence through his non-fiction works critiquing American suburban development and predicting societal changes based on resource constraints. Read more on Wikipedia →