Let us consider the hoeflation (academically referred as OF index) in the context of a money supply shrinking. It is well-known that the event of Black Thursday was merely a shrinking of about one third of the money supply at the levels of 1929. Now people pledging not to apply for an OF position is putting pressure on the remaining market participants. Once a critical mass is achieved the snowball effect will ultimately will converge with the 100y anniversary of said event of 1929. A money printer not pouring the capital generated by a loose monetary policy in OF will nevertheless pull the brakes resulting in a cataclism in the markets. To hoe or not to hoe, this is the question.