• It seems to me we have perfect conditions for rapid inflation: a magic money forest combined with shortages of goods.

    If there is hyper inflation anything is possible politically, but most outcomes would be bad.

    I note that devaluation is usually a death knell for the goverment in office, although the Tories seem to have got away with the 2016 post referendum devaluation - for the time being, at least

  • I suspect it's a reference to the value of the pound falling after the 2016 referendum rather than a formal devaluation - given that you can't devalue a freely tradeable currency.

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