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Weimar Germany’s Hyperinflation Was Nothing Compared to Other Countries

Posted By admin On August 19, 2009 @ 3:23 am In Money Watch | Comments Disabled

Washington’s Blog [1]
Wednesday, August 19, 2009

You’ve heard how bad things were in the Weimar Republic, when people would rush straight to stores to buy food after receiving a pay check because their money would buy much less the next day.

But it turns out that Germany’s hyperinflation in 1923 was nothing compared to that experienced by Hungary, Zimbabwe and Yugoslavia.

In a new paper [2] published by the Cato Institute, economics professor Steve Hanke lists the all-time worst episodes of hyperinflation:

Weimar Germanys Hyperinflation Was Nothing Compared to Other Countries  hyperinflations [3]

(click for full image).

Note that Hungary’s daily inflation rate was ten times greater than that in Weimar Germany, and prices doubled almost six times faster in Hungary than in the Weimar Republic.

Life in Weimar Germany was extremely difficult. But Hungary in 1946 was a lot worse.

Note: While the commonly accepted explanation for hyperinflation is government printing too much money, Ellen Brown argues [4] that the real explanation is a concerted attack on a country’s currency by foreign speculators and/or foreign governments.

Weimar Germanys Hyperinflation Was Nothing Compared to Other Countries  290509banner [5]


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URLs in this post:

[1] Washington’s Blog : http://www.washingtonsblog.com/2009/08/weimar-germanys-hyperinflation-was.html

[2] paper: http://www.cato.org/pubs/journal/cj29n2/cj29n2-8.pdf

[3] Image: http://blogs.reuters.com/rolfe-winkler/files/2009/08/hyperinflations.jpg

[4] argues: http://www.globalresearch.ca/index.php?context=va&aid=13673

[5] Image: http://www.efoodsdirect.com/ammo-food.html?aid=14&adid=5

[6] Federal Reserve sets stage for Weimar-style hyperinflation: http://www.prisonplanet.com/federal-reserve-sets-stage-for-weimar-style-hyperinflation.html

[7] Quantitative Easing Did Not Work For The Weimar Republic Either: http://www.prisonplanet.com/quantitative-easing-did-not-work-for-the-weimar-republic-either.html

[8] DYLAN GRICE: Germany Is Making The Same Mistake That Allowed The Nazis To Come To Power: http://www.prisonplanet.com/dylan-grice-germany-is-making-the-same-mistake-that-allowed-the-nazis-to-come-to-power.html

[9] Senator warns of hyperinflation rivaling the 1980s: http://www.prisonplanet.com/senator-warns-of-hyperinflation-rivaling-the-1980s.html

[10] Hussman: I’m Not Saying There’s Going To Be Hyperinflation, BUT Inflation Is Going To Be Huge: http://www.prisonplanet.com/hussman-im-not-saying-theres-going-to-be-hyperinflation-but-inflation-is-going-to-be-huge.html

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