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Currently reading "When Money Dies" the history of hyperinflation in Weimar Germany.
One of the wildest aspects I never knew was that early on people all thought they were getting rich.
They were selling hard assets for what they thought were insanely high prices in marks!
One of the wildest aspects I never knew was that early on people all thought they were getting rich.
They were selling hard assets for what they thought were insanely high prices in marks!
this is making the rounds. here are some of the relevant excerpts from the book. It's a terrific read.
The author of "When Money Dies" struggles over how to explain the scale of the inflation, because the numbers are so beyond human comprehension.
The most stark example: The German Marks needed to buy one egg in 1923 could have bought 500 BILLION eggs in 1918
The most stark example: The German Marks needed to buy one egg in 1923 could have bought 500 BILLION eggs in 1918
Another very good point. The Weimar government had a "full employment" mandate - AND ACHIEVED IT!!
That success was little consolation to the German people.
That success was little consolation to the German people.
One trick of getting through hyperinflation would have been to just hold Weimar Marks for another 100 years until they were collectibles, then BOOM max purchasing power
Why didn't more people think of this? https://www.ebay.com/itm/Hyperinflation-bank-note-Weimar-BAUHAUS-Herbert-Bayer-1923-Typography-MILLIARDE/154319772872?hash=item23ee2cdcc8:g:MgQAAOSwvuhgHT9S
Why didn't more people think of this? https://www.ebay.com/itm/Hyperinflation-bank-note-Weimar-BAUHAUS-Herbert-Bayer-1923-Typography-MILLIARDE/154319772872?hash=item23ee2cdcc8:g:MgQAAOSwvuhgHT9S
