What Was the Catalyst in the 1940s?

In 1914 to 1918, it was World War I, and then for Germany in the early 1920s, it was to pay off reparations. But those tend to be quite extreme events. And you know, we do have very severe issues with the war and Japan is defending its currencies. Do you think that the pressure, the exogenous pressure from the real economy is so extreme that we will see sort of the money printing and financial repression that we saw in 1914 to 1918 or the 1940s? Well, there's a good chance you've seen the peak rate of change, right?

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