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”!
Gold & Silver Prices Under The Weimar Republic’s Inflation
July 21, 2014
Stole this from another article/blogger.
“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.]”