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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 
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  published by the Cato Institute, economics professor Steve Hanke lists the all-time worst episodes of hyperinflation:
(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  that the real explanation is a concerted attack on a country’s currency by foreign speculators and/or foreign governments.
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URL to article: http://www.prisonplanet.com/weimar-germanys-hyperinflation-was-nothing-compared-to-other-countries.html
URLs in this post:
 Washington’s Blog : http://www.washingtonsblog.com/2009/08/weimar-germanys-hyperinflation-was.html
 paper: http://www.cato.org/pubs/journal/cj29n2/cj29n2-8.pdf
 Image: http://blogs.reuters.com/rolfe-winkler/files/2009/08/hyperinflations.jpg
 argues: http://www.globalresearch.ca/index.php?context=va&aid=13673
 Image: http://www.efoodsdirect.com/ammo-food.html?aid=14&adid=5
 Federal Reserve sets stage for Weimar-style hyperinflation: http://www.prisonplanet.com/federal-reserve-sets-stage-for-weimar-style-hyperinflation.html
 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
 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
 Senator warns of hyperinflation rivaling the 1980s: http://www.prisonplanet.com/senator-warns-of-hyperinflation-rivaling-the-1980s.html
 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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