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When Money Dies

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Tags Money and BanksWorld HistoryMoney and Banking

06/01/1975Adam Fergusson

The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany.

This was a time of bizarre parallels: amazing riches coinciding with terrible poverty, mass quantities of money coinciding with a shortage of money, mania and hysteria coinciding with mass depression, frenzied freedom coinciding with the rise of dictatorship. There is no better historical incident to illustrate what inflation does to society: it turns everything upside down. And the circumstances surrounding how it all occurred are eerily similar to our own today.

 

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