[nodrama]

people complain about artificial inflation, when states print money for no reason, while this article talks about inflation generated by real economic facts (like a bad year in agriculture).

So yes, if you ignore half of reality, you are right!

and what is this? "If the state endows the money with value". Money have a certain value because everybody using them agrees on that value. Dictatorships tried and failed to "endow the money with value". What happened in my country was that some alternative, valuable papers were created. Like a card for bread ratio. That piece of paper had value even if nobody was calling it "money". Or other papers that gave you some rights like buying a car, getting an apartment, vacation tickets etc.