They point to hyper-inflation
in the former Yugoslavia from 1992 to 1994 and Zimbabwe in 2007 and 2008.
If that happens, you are going to have huge congestion in the streets, you are going to have hyper-inflation
from a cost perspective, and you are going to have all the problems around resources and logistics," warned Risdbridger.
In conclusion, he referred to the question of whether the German government will agree to the European Central Bank''s becoming the lender of last resort for the Eurozone, and suggested that that might lead to hyper-inflation
of the kind Germany suffered in the 1920s, and which helped lead to the rise of the Nazis and to the Second World War.
However, stockbrokers are not routinely jumping out of windows and we are mercifully free of hyper-inflation
- you do not have to push a wheelbarrow of cash to the shops each time you want to buy a loaf of bread.
This ignores the two most salient facts about deflation, facts which have always made it more feared than anything save hyper-inflation
Mugabe has been in power for 31 years, presiding over a country which descended into economic chaos and hyper-inflation
, and widespread intimidation, brutality and killings after the presidential election of 2008.
But later they realised theys were worth about 5p due to Zimbabwe's hyper-inflation
has forced the printing of higher and higher value notes.
following Germany's defeat in World War I has rendered their savings worthless, so they just want to spend, spend, spend.
Zimbabweans hope the new government will bring policies to revive a country suffering hyper-inflation
, unemployment above 90 per cent, food shortages and a cholera epidemic that has killed nearly 3,500 people and infected more than 70,000.
Of late, Zimbabwe has been devastated by hyper-inflation
, food shortages and a cholera epidemic that has killed more that 3,300 people since August last year.
The paradox is that Mr Odey fears uncontrolled inflation is coming anyway from all the "stimulus" money floating round the world, possibly hyper-inflation