When money dies: The nightmare of the Weimar collapse

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Adam Fergusson - When money dies: The nightmare of the Weimar collapse
Publisher: Kimber | 1975 | ISBN: 0718302141 | PDF | 256 pages | 1.03 MB


When Money Dies is the classic history of what happens when a nation’s currency depreciates beyond recovery. In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy. Expensive cigars, artworks, and jewels were routinely exchanged for staples such as bread; a cinema ticket could be bought for a lump of coal; and a bottle of paraffin for a silk shirt. People watched helplessly as their life savings disappeared and their loved ones starved. Germany’s finances descended into chaos, with severe social unrest in its wake.

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