Waste paper: The German hyperinflation of 1923 - Paperback

by Simone Ricci (Author)

Why it is not possible to print all the money we need? The German hyperinflation of 1923 provides the answer to this question.After the creation of a gold-unbacked mark and the defeat in the First World War, the central bank of the Weimar Republic made some fatal mistakes and lost control of the currency.An incredible amount of paper money was issued and prices ran madly. Only people had invested in certain assets saved their money; many others people plunged into the worst poverty.The consequences were considerable and did not end in those few months. In fact hyperinflation was decisive for the rise of Nazism and today it continues to influence the German mentality, with repercussions on European monetary policy.