The future, stockpiling and the economy

[EshuBarakeno]

Tell them to chill.

We've still got 2 years until the apocalypse.

[shetlandponyluvr]

Tell them to chill.

We've still got 2 years until the apocalypse.

I really need a 'like' button!!!

[EshuBarakeno]

I really need a 'like' button!!!

That's what reps are for.

[shetlandponyluvr]

Hint taken!!!

[EshuBarakeno]

Hint taken!!!

LOL. Thanks.

[Mothernature]

Hyperinflation and Weimar Germany

"In 1922, a loaf of bread cost 163 marks.

By September 1923, this figure had reached 1,500,000 marks and at the peak of hyperinflation, November 1923, a loaf of bread cost 200,000,000,000 marks.

The impact of hyperinflation was huge :

People were paid by the hour and rushed to pass money to loved ones so that it could be spent before its value meant it was worthless.

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 as pensions became worthless.

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

The poor became even poorer and the winter of 1923 meant that many lived in freezing conditions burning furniture to get some 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 a great deal - 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 to turn to Hitler and the **** Party.

Hyperinflation proved to many that the old mark was of no use. Germany needed a new currency. In September 1923, Germany had a new chancellor, the very able Gustav Stresemann. He immediately called off passive resistance and ordered the workers in the Ruhr to go back to work. He knew that this was the only common sense approach to a crisis. The mark was replaced with the Rentenmark which was backed with American gold. In 1924, the Dawes Plan was announced. This plan, created by Charles Dawes, an American, set realistic targets for German reparation payments. For example, in 1924, the figure was set at £50 million as opposed to the £2 billion of 1922. The American government also loaned Germany $200 million."