Charles P. Kindleberger: "Pertama-tama, penurunan nilai terbatas pada...

"Pertama-tama, penurunan nilai terbatas pada wilayah seseorang. Kemudian ditemukan bahwa seseorang dapat berbuat lebih baik dengan mengambil koin-koin buruk melintasi perbatasan kota-kota tetangga dan menukarnya dengan orang-orang awam yang bodoh, membawa kembali koin-koin baik dan merendahkannya lagi. Semakin banyak permen diproduksi. Debasement berakselerasi secara hiper-mode sampai sebuah perhentian dipanggil setelah koin anak perusahaan menjadi tidak berharga, dan anak-anak bermain bersama mereka di jalan, seperti yang diceritakan dalam cerita pendek Leo Tolstoy, Ivan the Fool."

--- Charles P. Kindleberger

Versi Bahasa Inggris

Debasement was limited at first to one’s own territory. It was then found that one could do better by taking bad coins across the border of neighboring municipalities and exchanging them for good with ignorant common people, bringing back the good coins and debasing them again. More and more mints were established. Debasement accelerated in hyper-fashion until a halt was called after the subsidiary coins became practically worthless, and children played with them in the street, much as recounted in Leo Tolstoy’s short story, Ivan the Fool.