Chapter on Currency Destruction - Friedrich Georg Jünger
XX - THE DESTRUCTION OF MONEY When we study the financial and currency system of today, we enter an area where there reigns profound confusion. There can be no doubt that we are living in an era of general deterioration of currencies. This is shown by the withdrawal of precious metals from circulation and by the constant migration of gold in its flight from danger zones to zones of greater financial safety. Inflationary and deflationary movements, devaluations, and withdrawals from circulation affect all currencies, which have to be protected artificially by the most intricate regulations. Possession of precious metals or foreign banknotes, export of holdings by the owner or his agents, re-importation of currency into the country of its origin – all are put under the strictest control. Eventually, under pressure of exchange difficulties, we see the state reverting to a kind of primitive barter economy, an economy of peculiar financial and economic consequences. All these mysterious and...