![]() ![]() However, quantitative easing, that modern euphemism for surreptitious deficit financing in an electronic era, can no less be an assault on monetary discipline. Money may no longer be physically printed and distributed in the voluminous quantities of 1923. Germanys finances descended into chaos, with severe social unrest in its wake. People watched helplessly as their life savings disappeared and their loved ones starved. Expensive cigars, artworks, and jewels were routinely exchanged for staples such as bread a cinema ticket could be bought for a lump of coal and a bottle of paraffin for a silk shirt. In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy. Book Synopsis When Money Dies is the classic history of what happens when a nations currency depreciates beyond recovery. ![]() ![]() About the Book Originally published in 1975 by William Kimber. ![]()
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