Niall Ferguson Quote

An increase in the supply of paper money, and hence a decrease in the purchasing power of the currencies in which most bonds were denominated. A rational investor who anticipated a major war would sell bonds in anticipation of these effects.

Niall Ferguson

An increase in the supply of paper money, and hence a decrease in the purchasing power of the currencies in which most bonds were denominated. A rational investor who anticipated a major war would sell bonds in anticipation of these effects.

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