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House Price Crash forum > House Prices > Economics
cgnao
"By July 1922, the German Mark fell to 300 marks for $1; in November it was at 9,000 to $1; by January 1923 it was at 49,000 to $1; by July 1923, it was at 1,100,000 to $1. It reached 2! 5 trillion marks to $1 in mid-November 1923, varying from city to city. So the printing presses ran, and once they began to run, they were hard to stop."

"When the 1,000-billion Mark note came out, few bothered to collect the change when they spent it. By November 1923, with one dollar equal to one trillion Marks, the breakdown was complete. The currency had lost meaning."
headmelter
What was the question? huh.gif
mattyboy1973
QUOTE
Hungary went through its worst inflation in modern history in 1945-46. Before 1945, the highest denomination was 1,000 pengő. By the end of 1945, it was 10,000,000 pengő. The highest denomination in mid-1946 was 100,000,000,000,000,000,000 pengő. The rate of inflation was 4.19 quintillion (4.19 x 1018) percent. A special currency the adópengő - or tax pengő - was created for tax and postal payments [1]. The value of the adópengő was adjusted each day, by radio announcement. On January 1, 1946 one adópengő equaled one pengő. By late July, one adópengő equaled 2,000,000,000,000,000,000,000 or 2×1021pengő. When the pengo was replaced in August 1946 by the forint, the total value of all Hungarian banknotes in circulation amounted to one-thousandth of one US cent. [7]


this was always my favourite hyperinflation quote ohmy.gif

http://en.wikipedia.org/wiki/Hyperinflation
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