When Money Dies Nightmare Of The Weimar Collapse
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When Money Dies
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Author : Adam Fergusson
language : en
Publisher:
Release Date : 2010
When Money Dies written by Adam Fergusson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Germany categories.
Illustrating what could happen today if European governments try to spend their way out of the economic downturn, this book charts how the German economy was ruined by hyperinflation after the Weimar government allowed public spending to run out of control. The collapse of the Weimar Republic cleared the way for Hitler to seize power.
When Money Dies
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Author : Adam Fergusson
language : en
Publisher:
Release Date : 1975
When Money Dies written by Adam Fergusson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1975 with Business & Economics categories.
When Money Dies
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Author : Adam Fergusson
language : en
Publisher: Hachette UK
Release Date : 2010-10-12
When Money Dies written by Adam Fergusson and has been published by Hachette UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-12 with Business & Economics categories.
When Money Dies is the classic history of what happens when a nation's currency depreciates beyond recovery. 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. 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. People watched helplessly as their life savings disappeared and their loved ones starved. Germany's finances descended into chaos, with severe social unrest in its wake. Money may no longer be physically printed and distributed in the voluminous quantities of 1923. However, "quantitative easing," that modern euphemism for surreptitious deficit financing in an electronic era, can no less become an assault on monetary discipline. Whatever the reason for a country's deficit -- necessity or profligacy, unwillingness to tax or blindness to expenditure -- it is beguiling to suppose that if the day of reckoning is postponed economic recovery will come in time to prevent higher unemployment or deeper recession. What if it does not? Germany in 1923 provides a vivid, compelling, sobering moral tale.
The Downfall Of Money
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Author : Frederick Taylor
language : en
Publisher: Bloomsbury Publishing USA
Release Date : 2015-03-03
The Downfall Of Money written by Frederick Taylor and has been published by Bloomsbury Publishing USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-03 with History categories.
"Excellent . . . Mr. Taylor tells the history of the Weimar inflation as the life-and-death struggle of the first German democracy . . . This is a dramatic story, well told." --The Wall Street Journal
When Money Dies Nightmare Of The Weimar Collapse
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Author : Adam Fergusson
language : en
Publisher: Lulu.com
Release Date : 1975
When Money Dies Nightmare Of The Weimar Collapse written by Adam Fergusson and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 1975 with categories.
Fiat Money Inflation In France
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Author : Andrew Dickson White
language : en
Publisher: Ludwig von Mises Institute
Release Date : 1952
Fiat Money Inflation In France written by Andrew Dickson White and has been published by Ludwig von Mises Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 1952 with Assignats categories.
When Money Destroys Nations
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Author : Philip Haslam
language : en
Publisher: Penguin UK
Release Date : 2014-09-30
When Money Destroys Nations written by Philip Haslam and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-30 with Business & Economics categories.
Since the financial crisis of 2008, the major governments of the world have resorted to printing large amounts of money to pay national debts and bail out banks. The warning signs are clear, and the collapse of the Zimbabwean dollar after years of rampant money printing is a frightening example of what lies in store for world economies if painful reform is not executed. When Money Destroys Nations tells the gripping story of the disintegration of the once-thriving Zimbabwean economy and how ordinary people survived in turbulent circumstances. Analysing this case within a global context, Philip Haslam and Russell Lamberti investigate the causes of hyperinflation and draw ominous parallels between Zimbabwe and the world's developed economies. The looming currency crises and hyperinflation in these major economies, particularly the United States, have the potential to turn the current world order upside down. This story of how money destroys nations holds lessons that cannot be ignored.
The Death Of Money
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Author : James Rickards
language : en
Publisher: Penguin
Release Date : 2014-04-08
The Death Of Money written by James Rickards and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-08 with Business & Economics categories.
The next financial collapse will resemble nothing in history. . . . Deciding upon the best course to follow will require comprehending a minefield of risks, while poised at a crossroads, pondering the death of the dollar. The U.S. dollar has been the global reserve currency since the end of World War II. If the dollar fails, the entire international monetary system will fail with it. But optimists have always said, in essence, that confidence in the dollar will never truly be shaken, no matter how high our national debt or how dysfunctional our government. In the last few years, however, the risks have become too big to ignore. While Washington is gridlocked, our biggest rivals—China, Russia, and the oil-producing nations of the Middle East—are doing everything possible to end U.S. monetary hegemony. The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos. James Rickards, the acclaimed author of Currency Wars, shows why money itself is now at risk and what we can all do to protect ourselves. He explains the power of converting unreliable investments into real wealth: gold, land, fine art, and other long-term stores of value.
1931
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Author : Tobias Straumann
language : en
Publisher: Oxford University Press
Release Date : 2019-01-08
1931 written by Tobias Straumann and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-08 with History categories.
Germany's financial collapse in the summer of 1931 was one of the biggest economic catastrophes of modern history. It led to a global panic, brought down the international monetary system, and turned a worldwide recession into a prolonged depression. The crisis also contributed decisively to the rise of Hitler. Within little more than a year of its onset, the Nazis were Germany's largest political party at both the regional and national level, paving the way for Hitler's eventual seizure of power in January 1933. The origins of the collapse lay in Germany's large pile of foreign debt denominated in gold-backed currencies, which condemned the German government to cut spending, raise taxes, and lower wages in the middle of a worldwide recession. As political resistance to this policy of austerity grew, the German government began to question its debt obligations, prompting foreign investors to panic and sell their German assets. The resulting currency crisis led to the failure of the already weakened banking system and a partial sovereign default. Hitler managed to profit from the crisis because he had been the most vocal critic of the reparation regime responsible for the lion's share of German debts. As the financial system collapsed, his relentless attacks against foreign creditors and the alleged complicity of the German government resonated more than ever with the electorate. The ruling parties that were responsible for the situation lost their credibility and became defenceless in the face of his onslaught against an establishment allegedly selling the country out to her foreign creditors. Meanwhile, these creditors hesitated too long to take the wind out of Hitler's sails by offering debt relief. In this way, a financial crisis soon developed into a political catastrophe for both Europe and the world.
Dying Of Money
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Author : Jens O. Parsson
language : en
Publisher: Dog Ear Publishing
Release Date : 2011
Dying Of Money written by Jens O. Parsson and has been published by Dog Ear Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Inflation (Finance) categories.
The cover motif is a piece of old German money. It is a Reichsbanknote issued on August 22, 1923 for one hundred million marks. Nine years earlier, that many marks would have been about 5 percent of all the German marks in the world, worth 23 million American dollars. On the day it was issued, it was worth about twenty dollars. Three months later, it was worth only a few thousandths of an American cent. The process by which this occurs is known as inflation. A few years before, in 1920 and 1921, Germany had enjoyed a remarkable prosperity envied by the rest of the world. Prices were steady, business was humming, everyone was working, the stock market was skyrocketing. The Germans were swimming in easy money. Within the year, they were drowning in it. Until it was all over, no one seemed to notice any connection between the earlier false boom and the later inflationary bust. In this book, Jens O. Parsson performs the neat trick of transforming the dry economic subject of inflation into a white-knuckles kind of blood-chiller. He begins with a freewheeling account of the spectacular inflation that all but destroyed Germany in 1923, taking it apart to find out both what made it tick and what made it finally end. He goes on to look at the American inflation that was steadily gaining force after 1962. In terms clear and fascinating enough for any layman, but with technical validity enough for any economist, he applies the lessons gleaned from the German inflation to find that too much about the American inflation was the same, lacking only the inexorable further deterioration that time would bring. The book concludes by charting out all the possible future prognoses for the American inflation, none easy but some much less catastrophic than others. Mr. Parsson brings much new light to bear on this subject. He lays on the line in tough, spare language exactly how and why the American inflation was caused, exactly who was responsible for causing it, exactly who unjustly benefited and who suffered from the inflation, exactly why the government could not permit the inflation to stop or even to cease growing worse, exactly who was going to pay the ultimate price, and exactly what would have to be done to avert the ultimate conclusion. This book packs a wallop. It is not for the timid, and it spares no tender sensibilities. The conclusions it reaches are shocking and are bound to provoke endless dispute. If they proved to approximate even remotely the correct analysis of the American inflation, hardly any American citizen could escape being the prey of inflation and no one could afford not to know where the inflation was taking him. In the economic daily lives of everyone, nothing will be the same after this book as it was before.