That would be a neat trick. Because the higher prices all thru the 1970s was the result of the inflation (increase money supply, of 1934 to 1971.
Removing the gold peg in ’71, simply dropped the dollar and prices inverted higher, (no excess demand) and to SLOW DOWN results of the PRIOR inflation (adding money supply WW II Korea, Vietnam, moon landing ’32-’71) after that, the fed REMOVED money supply (’71-’81)like a big sponge mop with higher rates, to 21% prime.
(Falling commodity prices 1981 to 2001, because of the DEFLATION of ’71-’81)
Besides that, they need much much higher wages in the youngest part of the population, 18-25 years old. They need labor shortages. They need strong private sector labor unions, to create a so called in the 1970s….”A WAGE PRICE SPIRAL”
Yes that what the bad media said and implied during the 1970s, that wages caused inflation, not mentioning the huge amount of printing after they confiscated the gold in 1934. They were forced to depeg, or else all our gold would leave Fort Knox. And maybe it all did. Who really knows.
Hyper inflation would require a total loss of confidence in all fiat currencies. Besides that, if everything is in reverse, and they want to restore the USA and the original US Dollar, they would have to make the dollar GAIN value, so a new Chevy is back to $1,000.
Making the dollar any “smaller” they would have to remove all coinage, making the dollar the smallest unit of account. Like a penny.
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