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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (304555)	5/10/2009 11:16:35 PM
From: goldworldnet	Read Replies (1) \| Respond to of 793838

A colleague told me of a former professor relating how a family member paid off their farm mortgage by selling a cow in Germany during its period of hyperinflation in the 1920's. Before World War I Germany was a prosperous country, with a gold-backed currency, expanding industry, and world leadership in optics, chemicals, and machinery. The German Mark, the British shilling, the French franc, and the Italian lira all had about equal value, and all were exchanged four or five to the dollar. That was in 1914. In 1923, at the most fevered moment of the German hyperinflation, the exchange rate between the dollar and the Mark was one trillion Marks to one dollar, and a wheelbarrow full of money would not even buy a newspaper. Most Germans were taken by surprise by the financial tornado. pbs.org * * *