By Howard Katz: One hears much discussion of hyperinflation on the gold web sites. It is a worst case scenario and used to alarm and excite. It is used to designate a period when prices are rising very rapidly, the favorite example being Germany of 1914-23, and during this time prices rose by very close to one trillion times. That is, a piece of bread which started off costing 1 mark ended costing one trillion marks. So it is not merely in today's world that we are using numbers above 1 trillion. But it is an instructive period of history, and we must always keep in mind that those who do not learn from history are doomed to repeat it.....read on
Thursday, August 12, 2010
Hyperinflation
By Howard Katz: One hears much discussion of hyperinflation on the gold web sites. It is a worst case scenario and used to alarm and excite. It is used to designate a period when prices are rising very rapidly, the favorite example being Germany of 1914-23, and during this time prices rose by very close to one trillion times. That is, a piece of bread which started off costing 1 mark ended costing one trillion marks. So it is not merely in today's world that we are using numbers above 1 trillion. But it is an instructive period of history, and we must always keep in mind that those who do not learn from history are doomed to repeat it.....read on
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