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07-28-2016, 05:27 AM
When hyperinflation drove Germans to use money as kindling
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1923
Children use bundles of bank**tes as building blocks.
Image: Three Lions/Getty Images
In 1914, the exchange rate of the German mark to the American dollar was about 4.2 to one. Nine years later, it was 4.2 trillion to one
The out-of-control inflation began somewhat mildly during World War I, as the German government printed unbacked currency and borrowed money to finance military expenditures. The strategy was to eventually pay off the debts by seizing resource-rich territories and imposing reparations on the vanquished Allies.
But then Germany lost the war and ended up with massive debts and reparations to the Allies to be paid under the Treaty of Versailles. Read more... (http://mashable.com/2016/07/27/german-hyperinflation/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
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1923
Children use bundles of bank**tes as building blocks.
Image: Three Lions/Getty Images
In 1914, the exchange rate of the German mark to the American dollar was about 4.2 to one. Nine years later, it was 4.2 trillion to one
The out-of-control inflation began somewhat mildly during World War I, as the German government printed unbacked currency and borrowed money to finance military expenditures. The strategy was to eventually pay off the debts by seizing resource-rich territories and imposing reparations on the vanquished Allies.
But then Germany lost the war and ended up with massive debts and reparations to the Allies to be paid under the Treaty of Versailles. Read more... (http://mashable.com/2016/07/27/german-hyperinflation/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
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