Encourage one another and build one another up. Pray without ceasing. Test everything. Keep what is good. Avoid all evil. -1 Thess 5:11,17,21,22
Friday, October 8, 2021
I am surprised the price of silver is not higher
A time-progression of the Weimar Republic Mark exchange rate vs. two currencies backed by "hard" assets. The Mark wandered around 60 Marks to the dollar from 1920 until June of 1921. Then over the course of the next 12 months it shed 90% of its purchasing power. By January 1923 (six months) it had lost 99% of its 1920 value. By June 1923 the purchasing power was 10% of the January purchasing power.