Sunday, August 30, 2015

Weimar Republic



Welcome to Financial Collapse Week here at OPOD. We will be looking at pictures throughout history of what happens when currencies and banking systems fail. Today's picture is from 1923, the Weimar Republic in Germany. The economic system collapsed and led to hyperinflation. The prices rose so quickly that the money became worthless almost faster than it was printed. In the picture above, the person is using a stack of $1 Million German Marks as a scratch pad.

2 comments:

  1. My German grandmother said the men got paid twice a day, and their wives would come with wheelbarrows to collect the money and race to the stores to spend it before suppertime, when they would go back with a larger wheelbarrow. People often burned it as fuel because it wouldn't even buy wood to put in the fireplace.

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  2. When my father was stationed in Germany with the US Army in the early 50s, he became friends with an old man in the nearby town. One day during a visit, the old man showed him a large steamer trunk and told him to open it. Dad did as he was asked, and was shocked to see the trunk was full of money, many of the individual notes being in the millions [if not billions] of marks. It was an even bigger shock when the old man told him that in the early 20s that trunk full of money wouldn't even buy a loaf of bread.

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