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The Nightmare German Inflation
Foreword: The many parallels between 1924 Germany and present-day United States are cause for concern. Though the U.S. has not yet reached the depths to which Germany descended in that era, few can look at the constant depreciation of the dollar since the early 1970's and fail to be alarmed. It seems contemporary America differs from 1924 Germany only in the duration between cause and effect. While the German experience was compressed over a few short years, the effects of the American inflation have been more drawn out.
In my view, this has occurred for two good reasons:
First, American central bankers have learned enough from the German experience to delay and extend the consequences of printing too much fiat money.
Second, Germany was a small state isolated from the rest of the world, a pariah nation of sorts following World War I. As a result, it had a difficult time finding a market for its government bonds. German deficits had to be financed internally -- a difficulty which greatly accelerated the printing of fiat currency.
Originally posted by wonderworld
reply to post by cpdaman
Like Ive stated before; this could happen to us and most likely will. We have an increase in interest rates, unemployment, rising food costs.
Just a 20% annual inflation would lead to Hyperinflation in a very short time.
No one want it to happen but we are not immune to it. T
he printing presses are still rolling out the dough, as happened in Germany experimenting with the printing of money.
There are many comparisons if you read the link.
Originally posted by ladyinwaiting
Is it three trillion dollars they have printed? It is my understanding that it hasn't been released yet.
Does anybody know about that?