At exactly which point did these currencies lose their store-of-value property?
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They are usually victims of black swan events, such as revolutions, conquests, or other major political changes.
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So, is it necessarily the fault of central banks that the currency goes haywire?
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No, but I bet if you looked at the value of hard assets like gold, they would maintain their value through those events.
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I suspect that is the case as well, plus, those assets are transnational in nature.
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is there a universal definition of hard money?
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Jesus it can happen in a month. Scary.
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*It* can happen overnight...
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If only these nations had a trust-minimized non-sovereign-backed instrument to battle hyper-inflation. (I have some old Pengos. :))https://twitter.com/gaborgurbacs/status/1025747445064577024?s=21 …
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My grandparents told me they were only able to distinguish these by color, they were issued so rapidly in various denominations.
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hyperinflation is mostly due to excessive FOREIGN DEBT (see Weimar) that cannot be repaid and forces the Central Bank or Treasury to print money. The main cause is debt to foreigners to pay for imports.or because of lost war (again see Weimar)
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jajaj me puse a hacer cuentas para entender porque no estábamos en ese ranking.
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lo encontre buscando como era la formula
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Never had russian rubble in Ukraine. Karbovanets was Ukrainian currency from 1992 till 1996.
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Thanks Nick, just learned about the Free City of Danzig :)
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Can you imagine the chaos if the Euro were to hyperinflate? 19 countries on the same fiat currency. What could possibly go wrong?
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