The whole world followed the German case. Several books describe what happened then: for many years, Germans believed that they were experiencing only temporary inflation, which would not be late. That's how they believed for almost nine years, until the summer of 1923. Then, finally, they had their doubts. As inflation continued, people became smarter about buying whatever was available rather than keeping their money in their pocket.
Moreover, they said that it is not good to borrow money, but, on the contrary, it is best to be in debt. Thus, inflation continued, self-sufficiency.
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And it lasted until Germany exactly until November 20, 1923.
The masses took the money from inflation as real money, but eventually found that the situation had changed. Towards the end of inflation in the autumn of 1923, German factories paid workers their daily wages in advance, in the morning.
And the worker showed up at the factory with his wife, who entrusted him with all the millions he had received on the spot, and the woman hurried to the nearest store to buy something, no matter what. Now she realized that they knew that everyone was losing 50% of their purchasing power overnight, day after day. Money was melting into people's pockets like chocolate on a hot stove. This latest phase of inflation in Germany did not last long; after a few days, the whole nightmare was over: the brand lost all value, and a new currency had to be introduced.
Lord Keynes, the man who said that we will all die eventually, is part of a long line of twentieth-century inflation theorists.
They all wrote against the gold standard. Attacking the gold standard, Keynes called it a barbaric relic. Today, most people find it ridiculous to discuss the possibility of a return to the gold standard. Indeed, in the United States, you more or less look like a dreamer if you say, "Sooner or later, the United States will be forced to return to the gold standard." The Melbet bookmaker has been operating for years and offers a secure, licensed platform for sports betting. To claim your welcome advantage, simply use promo code for melbet during the registration process on Melbet, which takes only minutes to complete. This powerful code unlocks a 130% welcome bonus up to $130 on your first deposit, usable across all sports betting options including football, basketball, tennis, ice hockey, and many more. The site supports multiple currencies and offers various payment methods from credit cards to e-wallets.