Saturday, December 25, 2010

Life in Hell: German Weimar Hyperinflation

From 1922-1923 the German people suffered under the torture of hyperinflation. The snippets below help the reader to begin to understand the hell the average German citizen experienced:
  • In September 1922, a loaf of bread cost 163 marks. One year later in September of 1923, this figure had reached 1,500,000 marks. A few months later at the peak of hyperinflation, November 1923, a loaf of bread eventually cost an inconceivable 200,000,000,000 marks!
  • People were paid by the hour and rushed to pass money to loved ones who hurriedly bought whatever they could before the paper notes lost their purchasing power.

  • People had to shop with wheel barrows full of money.

  • Bartering became common - exchanging something for something else but not accepting money for it. Bartering had been common in Medieval times!

  • Pensioners on fixed incomes suffered and starved.

  • Restaurants did not print menus as by the time food arrived…the price had gone up!

  • The poor became even poorer, and by the winter of 1923 meant many lived in freezing conditions, burning their meager furniture for heat.

  • The very rich suffered least because they had sufficient contacts to get food, etc. Most of the very rich were land owners and could produce food on their own estates.
The group that suffered the most - proportional to their income - was the middle class. Their hard-earned savings disappeared overnight. They did not have the wealth or land to fall back on as the rich had. Many middle class families had to sell family heirlooms to survive. It is not surprising that many of those middle class who suffered in 1923, were later to turn to Hitler and the Nazi Party.

Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies (below):



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