100 one dollar bills go further than one 100 dollar bill. Especially when wiping...
" In 1920, prices plummeted around the world in a great deflation. This price and wage deflation was reinforced by the economic policies of conservative governments. Germany's new Weimar Republic inherited the vast burden of debt and the crushing weight of reparations from WWI. Add in the fact that tax revenues were low due to the weak economy, while the outflow of payments in gold fueled inflation..."
The free fall in the German mark was incredible.
Following is the historic slide:
July 1920…39.5 marks to the dollar January 1921…64.9
July 1921…76.7 January 1922…1919.8 July 1922…493.2 January 1923…17,972 July 1923…353,412 August 1923…4,620,455 September 1923…98,860,000 October 1923…25,260,208,000 November 15, 1923…4,200,000,000,000 (yes, 4.2 trillion marks to the dollar.)
Farmers could sell a cow on Monday and if not able to make it to market until Friday, the money from the sale of the cow would perhaps buy a pound of butter. Wheelbarrows of money. Be happy with the simpler things in life...the ones that aren't for sale.
1 comment:
Great info! I'm writing a research paper on this topic.
Do you know the source you got the quote at the beginning and Marks to Dollar conversions from?
If you could email it to me at (david[at]sukhin[dot]com)*, that would be great!
THANKS!!!!!
*Just put in the right characters in. Doing that to prevent spam.
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