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Originally Posted by darcane
A crop failure might account for one commodity, but seeing essentially all of them start climbing at the same time indicates a currency devaluation.
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Or increased demand running into constant/decreasing supply...
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You seem to be implying that a gold standard eliminates inflation. This is laughable and history showed otherwise.
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No, I'm not implying that. That was my counter-example to the claim that a gold standard prevents inflation, and/or that all price increases are due to inflation.
Now if you took the same island, and all of a sudden someone discovers a major new gold mine (as with California Gold Rush) so that gold becomes more common... Now that would be inflation.
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In your example, no that wouldn't be inflation unless you were seeing higher prices for the majority of goods and services.
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But you could still see higher prices without inflation, if they're due to scarcity. Say you're living on Easter Island during the last years of the collapse...