On the latest episode of Minor Issues, Mark Thornton revisits the history—and present risk—of hyperinflation. Mark explains the threshold that defines hyperinflation, why measuring prices under chaos is hard (yet still revealing), and how the social damage mirrors war: savings vaporize, capital is destroyed, and civic trust collapses. He closes with practical takeaways: why gold and silver often move first as “fire alarms” and why studying past episodes builds the psychological and analytical readiness to face low-probability, high-impact events.

"The Road to Hyperinflation" (Minor Issues, Episode 136): https://mises.org/MI_136

"The Gold-Silver Ratio" (Minor Issues, Episode 119): https://mises.org/MI_119

"On Hyperinflation: New Evidence from Zambia, the Central African Franc Zone, and Belarus" by Steve H. Hanke and Nicole Saade (World Economics Journal, December 2025): https://mises.org/MI_157_A

"Hyperinflation and the Destruction of Human Personality" by Joseph T. Salerno (lecture): https://mises.org/MI_157_B

"Hyperinflation and The Destruction of Human Personality" by Joseph T. Salerno (Studia Humana, 2013): https://mises.org/MI_157_C

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Enter the 2026 Stocks vs. Manure Prediction Contest at https://mises.org/form/stocks-vs-manure-2026

Be sure to follow Minor Issues at https://Mises.org/MinorIssues

Mark Thornton kicks off 2026 with the new Minor Issues prediction contest (stocks vs. manure) and a hard look at the monetary-metals squeeze. Mark explains why $50 silver triggered “growing pains”: spot–futures disconnects, margin hikes, empty coin shops, and weird retail premiums. As investor demand collides with industrial stockpiling, price spikes invite political scapegoating (“hoarders!”) and intervention that backfires. Expect more meddling before genuine market adjustments can work.

Enter the 2026 Stocks vs. Manure Prediction Contest at https://mises.org/form/stocks-vs-manure-2026

Be sure to follow Minor Issues at https://Mises.org/MinorIssues

Mark Thornton appears on Metals and Miners with Gary Bohm. They explore the Federal Reserve's policies, geopolitical impacts, commodity underinvestment, AI's economic role, precious metals like gold and silver, stock market valuations, and the path to prosperity through free markets. Mark shares Austrian economics perspectives on the 2026 outlook, deflation benefits, and why government intervention fails.

Be sure to follow Minor Issues at https://Mises.org/MinorIssues