Today's Economy Parallels Weimar Germany's Hyperinflation, But Now We Have Bi...
The more things change the more they stay the same; our modern inflationary currencies are beginning to mirror that of Weimar.In the early 1920s, the value of the papiermark (the native currency of the Weimar Republic of Germany) lost almost all of its purchasing power, causing tremendous instability within Weimar for many years as society tried to wrestle with the fact that tomorrow’s money was worth less than it was today. Day after day, the currency was worth less and less, ultimately becoming a worthless piece of paper. Children playing with the hyperinflated papiermark (Source). The....
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Venezuela is the world’s worst performing economy, hit by 700% hyperinflation and sinking in debt. Its currency, the bolivar, is currently losing half its value every 18 days. However, the government announced on Monday that it will remove the country’s largest banknote (100 VEF, worth $0.02 on the black market) over a 72 hours period. We tried to assess....
"Weimar signs" that the fiat money system is entering hyperinflationary territory keep appearing, making the case for bitcoin.
Twitter and Square CEO Jack Dorsey has warned that hyperinflation will soon happen in the U.S. and elsewhere in the world. “Hyperinflation is going to change everything. It’s happening,” he predicted. Many people disagreed with him, however.
US Will Soon Experience Hyperinflation, Says Twitter CEO Jack Dorsey
The CEO of Twitter and Square Inc., Jack Dorsey, tweeted a warning about hyperinflation in the U.S. Friday. “Hyperinflation is going to change everything. It’s happening,” he wrote.
Comments flooded his tweet. At the time....
As signs of hyperinflation in the U.S. continue to appear, our society will suffer in numerous ways. Those who choose bitcoin will have some protection.
Historically, hyperinflation is a positive feedback loop of free money, illusionary wealth and greed.