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Dinesh

Dinesh club

Posted: 25 Jun 2020

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Inflation

Inflation
The Fruits of Germany’s Inflation. In the end, currency had value only as waste paper. Here bank notes are being purchased by the bail for paper mills, along with old rags (Lumpen) and bones (Knochen). (Archiv fur Kunst u. Geschichte/Katherine Young0
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 Dinesh
Dinesh club
By the summer of 1923, France and Germany were engaged in a great test of wills. As the German government had anticipated. French armies could not collect reparations from striking workers at gun-point. But French occupation was indeed paralyzing Germany and its economy, for the Ruhr district normally produced 80 percent of Germany’s steel and coal. Moreover, the occupation of the Ruhr turned rapid German inflation into runaway inflation. Faced with the need to support the striking Ruhr workers and then employers, the German government began to print money to pay its bills. Prices soared. People went to the store with a big bag of paper money, they returned home with a handful of groceries. German money rapidly lost all value, and so did anything else with a stated fixed value. - page 912

A HISTORY OF WESTERN SOCEITY
4 years ago. Edited 6 months ago.
 Dinesh
Dinesh club
During my first semester I studied at the Institute of Technology in nearby Karlsruhe. Financial reasons dictated this choice, for the inflation was growing wilder with each passing day. I had to draw my allowance weekly; by the end of the week the fabulous sum had melted away to nothing. From the Black Forest where I was on a bicycle tour in the middle of September 1923, I wrote: “Very cheap here! Lodgings 400,000 marks and supper 1,800,000 marks. Milk 250,000 marks a pint”. Six weeks later, shortly before the end of the inflation, a restaurant dinner cost ten to twenty billion marks, and even in the student dining hall over a billion. I had to pay between three and four hundred million marks for a theater ticket. ~ Page 11 (Origin and Youth)

INSIDE THE THIRD REICH
2 years ago. Edited 6 months ago.
 Dinesh
Dinesh club
mises.org/library/90-years-ago-end-german-hyperinflation

HOW THE INFLATION ENDED
2 years ago. Edited 2 years ago.
 Dinesh
Dinesh club
By 1923, Germany had entered into infamous phase of hyperinflation. The government’s presses ran overtime printing worthless bills, and the value of the German currency sank to over four trillion marks to the dollar (valuing a U.S penny at 4 billion marks). Millions of citizens lost their life savings. Pensions, accumulated by workers through decades of struggle, vanished overnight, along with their trust in the middle class values of diligence and thrift. ` Page 6

RED ORCHESTRA
5 months ago. Edited 5 months ago.