Weimar Germany's hyperinflation provides perhaps the most dramatic example of the destruction that ensues when money dies. This 16 tweet thread summarizes Adam Fergusson's definitive account, and explores the lessons we can learn from this dark period in German history.pic.twitter.com/h80u61jnzu
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1/ During WWI, European powers suspended the gold convertibility of their currencies, issued bonds and printed new bills, as a means of financing their war efforts. With varying degrees of severity, each introduced price controls in a misguided attempt to suppress inflation.pic.twitter.com/bWrSDfCUxs
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