It's About Liberty: A Conservative Forum
Topics => Economy => Topic started by: charlesoakwood on October 11, 2012, 03:53:31 PM
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Link (http://www.zerohedge.com/news/2012-10-11/cashin-remembers-germanys-hyperinflation-birthday)
To understand the incomprehensible scope of the German inflation maybe it’s best to start with something basic….like a loaf of bread.
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In 1920, a loaf of bread soared to $1.20, and then in 1921 it hit $1.35. By the middle of 1922 it was $3.50. At the start of 1923 it rocketed to $700 a loaf. Five months later a loaf went for $1200. By September it was $2 million. A month later it was $670 million (wide spread rioting broke out). The next month it hit $3 billion. By mid month it was $100 billion. Then it all collapsed. Let’s go back to “marks”. In 1913, the total currency of Germany was a grand total of 6 billion marks. In November of 1923 that loaf of bread we just talked about cost 428 billion marks. A kilo of fresh butter cost 6000 billion marks (as you will note that kilo of butter cost 1000 times more than the entire money supply of the nation just 10 years earlier).
How Could This All Happen?
In 1913 Germany had a solid, prosperous, ...
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Really? Such hysteria! A gentleman in a dark suit and a shiny badge will be knocking on your door shortly, your reeducation process is about to begin.
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