Inflation is an increase in the currency supply over a given period of time, which ultimately has the effect of devaluing that currency. More units of currency chasing after the same amount of goods/services necessitate a rise in prices. It must do an accounting of all the extra currency created in order to achieve equilibrium once again. Hyperinflation is this same phenomenon occurring over a much shorter period of time. This produces severe devaluation of the currency along with rapid price increases. A feeling of hysteria is induced in the people then becomes a positive feedback loop. Nobody wants to save any currency because they know doing so will only lead to a loss wealth. Therefore they spend the currency as fast as they earn it. This spending frenzy along with the rapid hemorrhaging of currency creation from Central Banks and other institutions is what produces the characteristic skyrocketing prices as entrepreneurs frantically try to keep pace with the resultant hysteria. In such plummeting economies the people demand to get paid not once every two weeks or once a week but every day in a vain attempt to not lose any earned purchasing power. This is the climax of the Wealth Transfer, as wealth is swiftly transferred from the industrious middle class to the politically connected and ruling elite. It is a process that is as old and wicked as Statism itself.
Unfortunately for those ignorant of monetary history this is an inevitable fate full of chimerical grotesqueries. Disregarding the mistakes of our ancestors is the cause of so many ills of humanity. The sparse students of true history must suffer at the well intentioned but nevertheless misguided hands of the vulgar masses who emotionally charge ahead at an ever accelerating speed towards the cliff to meet their doom. Let us break this vicious cycle of impoverishment. This is the result of placing our lives in the incompetent and thieving hands of political predators and bureaucratic parasites. This is the result of refusing to take personal responsibility for our actions. This is the result of allowing fear and hatred to guide our lives instead of love and acceptance. Take care what actions you take when seized by trepidation for they may prove to be your last. Think, it’s not illegal yet! Even if it was illegal I would still do it!
By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.
John Maynard Keynes