“A central bank should have only one duty, which is to protect the value of its currency,” said Adam Fergusson.

Fergusson, born in 1932, is British a journalist, author, and politician. He is one of the leading experts in the world on the subject of hyper-inflation and wrote a book about Weimar Germany’s experience with it.

The book, titled When Money Dies, was first published in 1975.

In the wake of the financial crisis, there has been a surge of interest in it thanks to a reported endorsement from billionaire investor Warren Buffett.

In fact, copies of his book sold for as much as 1,600 sterling pounds.

In response to this renewed demand, When Money Dies has been republished to satisfy the curious minds of fans and serve as a warning to modern politicians.

Fergusson shared with IBTimes his thoughts on the current practice of quantitative easing. He doesn’t think the dollar, euro, or sterling pound will likely suffer Weimar-like deaths. However, he strongly suggests that the governments of these countries stop their quantitative easings.

From the conversation with Fergusson, IBTimes compiled a list of 6 arguments against this practice.

Click on the Start button to view the list.

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2. Its a vicious cycle.
In the 21st century, it hasn’t progressed to this stage yet, but back in Weimar Germany, the government at one point had to print money simply to afford paying wages.However, this just leads to a vicious cycle of higher wages and the need for more money printing. Historic
3. Its about politics jobs.
The underlying fear is always joblessness.Back in Weimar Germany, there was a real fear that joblessness will lead to a Russia-inspired revolution.In the 21st century, this fear was realized in Tunisia and perhaps Egypt as well.In the United States and Europe, politicians may just be trying to avoid unpopularity. Reuters
4. It doesnt work.
As far as lowering the unemployment rate goes, it hasn’t worked in Europe and it’s not working in the United States, according to Fergusson.The excess liquidity sloshes around destructively in emerging market countries. In developed countries, “banks just sit on it” because “they’re not willing to lend,” said Fergusson. Reuters
6. Its causing international currency tensions.
Countries around the world really don’t like the few central banks that are engaged in quantitative easing.The Federal Reserve’s program of quantitative easing, for example, has drawn scathing criticism Chinese and German officials.Moreover, countries are reacting by competitively devaluing their currencies in order to boost exports and gain domestic jobs.This hostility, if not dealt with properly, can escalate into a global trade war. Reuters
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