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Politics : Politics for Pros- moderated
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To: frankw1900 who wrote (609757)10/2/2016 7:26:33 AM
From: skinowski   of 793931
 
Weimar government in the early 1920's tried to play a strange game. They had to pay large war reparations - and the payments had to be made either in gold, or in "hard" currency. They quickly ran out of both. Their economy was bad, and the inflation was becoming worse. In desperation, apparently trying to buy time, they started printing more and more marks - and used them to purchase hard currencies, in order to continue with their payments. What followed was predictable. A great illustration how smart politicians can be incredibly stupid - and take a country over the cliff.
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