Jim’s Mailbox

Posted at 11:36 AM (CST) by & filed under Jim's Mailbox.

Our pal Tony sent us the price/timeline of gold in Reichsmarks in Weimar Germany. And people call us nut jobs for simply doing the math of how much in dollar terms gold would need to be to pay off the national debt?  Please note, Gold was only 323,000 Reichsmarks in Jan 1923 and ended the year (and the currency) at 87 trillion…pretty much illustrates “Q: how did you go broke? A; Slowly at first but then all of a sudden”!

Bill

Gold & Silver Prices Under The Weimar Republic’s Inflation
July 21, 2014

Stole this from another article/blogger.

Quote:

“On a closing note, because I forgot last week, I would like to share with everyone just how the price of silver and gold escalated in German Mark terms, through the Weimar experience:

Hyperinflation: Wiemar, Germany January 1919 to November 1923
[Expressed in German Marks needed to by an oz. of ag. or au.]”

Jan. 1919
Silver 12
Gold 170

May. 1919
Silver 17
Gold 267

Sept. 1919
Silver 31
Gold 499

Jan. 1920
Silver 84
Gold 1,340

May 1920
Silver 60
Gold 966

Sept. 1921
Silver 80
Gold 2,175

Jan. 1922
Silver 249
Gold 3,976

May. 1922
Silver 375
Gold 6,012

Sept. 1922
Silver 1899
Gold 30,381

More…