Comments on: Hyperinflation: The Story of 9 Failed Currencies

By: John Seiling

John Seiling — Mon, 19 Oct 2009 02:53:20 +0000

Hitler made the Mark valuable because he demanded that lenders must accept payment in Marks or go to prison. Read your Federal Reserve Note and you will see it satisfys any debt. No need to be backed with gold. It is backed with prison! That came about after WWII.

By: Robert Rademacher

Robert Rademacher — Fri, 16 Oct 2009 19:03:36 +0000

It’s true that there are many failed currencies out there, which certain countries have switched to Euro, or pegged to US Dollars.

To see all current currencies used by all countries, please visit http://currate.com/map.php to see thousands of currency images used by all countries.

By: PeopleSearch

PeopleSearch — Thu, 30 Jul 2009 07:43:33 +0000

2 John Smith >

So what do you offer if you live under their control?
Vote for independent candidate or party? Think you can find one able to win?

Finally, it’s all a Big Game where people (all of us who are not Club-members) are just supplies.

By: Thomas J

Thomas J — Wed, 22 Jul 2009 13:16:39 +0000

your missing the point
it doesn’t matter who made the currency change
my understanding is that it was either excessive government control or the overzealousness of the militaria that defeated the productiveness of the populace.
After all isn’t PRODUCTIVITY the path to prosperity?

1 like

By: John Smith

John Smith — Wed, 22 Jul 2009 02:28:50 +0000

There’s nothing “funny” about the gold standard. It’s a form of wealth that has been recognized for many thousands of years, far longer than any fiat currency devised by man. It’s something that is in limited supply since it has to be mined, fakes are easily detected, and the very fact that it has limited commercial and industrial use means the supply is pretty stable. There’s no reason to pick a different commodity that doesn’t have the same history of wealth preservation.

Also, people think the “gold standard” means that either people carry around gold to pay for things or the banks have to horde stockpiles of the stuff in order to “back” the currency. The truth is if the supply of the currency is kept in line with demand then banks will only need minimal amounts of gold on hand for redemptions. It’s pretty damn simple… If they get carried away printing money, more money gets traded in for gold and they know to stop printing money to allow demand to catch back up with supply. The reverse is also true… If people are turning in gold for money then they know to print more so it doesn’t get overvalued.

The problem is government. Governments are notorious for destroying the value of money, and it doesn’t have to be hyperinflation to feel the effects. Since its inception in the United States the Federal Reserve Bank has inflated our currency so much that a dollar in 1913 is worth pennies today. When they say inflation is “low” what they really mean is that inflation is at a rate such that people are not going to notice the slow destruction of the value of their money. They know if people start catching on their days are numbered.

We had STABLE money for hundreds of years before the advent of the Federal Reserve and we can have it again if we demand our lawmakers end the Fed and stop tacitly approving the destruction of our hard-earned money. A dollar you manage to squirrel away today will be worth pennies by the time you retire all because a private bank is allowed to print dollars like monopoly money. Understand that while YOU must go out and sweat and labor for a dollar, THEY simple run a dollar off the printing press and PROFIT from it! They are literally stealing our money in the process in order to enrich themselves. It’s abhorrent and something a free society like we have in the United States can no longer tolerate.

2 likes

By: Mark

Mark — Sun, 19 Jul 2009 16:08:38 +0000

I think it’s funny that people are so insistent on a gold standard to prop up a currency that has no inherent value, only that which people believe it has, when in reality, gold (aside from being useful in various electronic devices) has no inherent value, only that which we believe it has. Why stop at having a gold standard? We could pick any number of worthless commodities to back up our currency. Ultimately, it’s that people believe that something has a value that actually gives it value. Especially with relatively useless shiny metals and little bits of green paper.

By: @ NB

@ NB — Fri, 17 Jul 2009 19:49:26 +0000

GOLD and the paper with the offerings/holdings of that gold. Been around since they were off with your head!

By: Curtis Copeland

Curtis Copeland — Mon, 13 Jul 2009 19:59:55 +0000

There is definitely a correlation between national debit and hyper inflation. It is sad how we do not learn from the past.

By: Ebun Ayodeji

Ebun Ayodeji — Thu, 09 Jul 2009 13:31:28 +0000

From your findings what are the real causes of this problem? What can the people in this situation do?

By: sumit

sumit — Thu, 02 Jul 2009 12:47:13 +0000

In this downturn market even economically strong countries are suffering and it hits the economy so broadly and spreads in the entire financial domain. And at this moment we need Consulting Agreement for the country people to manage their money in great sphere.