Karl Schiller forced out over Bundesbank dispute

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• Princes of the Yen whole source · open book

  For instance, in 1972, when economics and finance minister Karl Schiller correctly argued that the excessive credit creation by the United States and massive flight from the dollar should be countered by revaluing the DM, the Bundesbank under President Klasen refused. The highly popular and hitherto successful minister was forced out of the government and resigned.

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• Richard Werner author of the source

Appears in 3 stories

• Paper money, central banks, and credit creation step 26
• Princes of the Yen: Japan built, bubbled, and broken step 126
• Reichsbank: independence, hyperinflation, and Hitler step 25

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