a restauranteur in zimbabwe carries the receipts from a · pdf filea restauranteur in zimbabwe...
TRANSCRIPT
![Page 1: A restauranteur in Zimbabwe carries the receipts from a · PDF fileA restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank in 2008. If converted to US](https://reader031.vdocuments.mx/reader031/viewer/2022030406/5a8032e97f8b9aa24f8c42e3/html5/thumbnails/1.jpg)
A restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank
in 2008. If converted to US dollars, this armful of money was less than $1,000.00.
![Page 2: A restauranteur in Zimbabwe carries the receipts from a · PDF fileA restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank in 2008. If converted to US](https://reader031.vdocuments.mx/reader031/viewer/2022030406/5a8032e97f8b9aa24f8c42e3/html5/thumbnails/2.jpg)
100 billion dollars for 3 eggs.
Billions of dollars for a loaf of bread.
![Page 3: A restauranteur in Zimbabwe carries the receipts from a · PDF fileA restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank in 2008. If converted to US](https://reader031.vdocuments.mx/reader031/viewer/2022030406/5a8032e97f8b9aa24f8c42e3/html5/thumbnails/3.jpg)
A young billionaire in Zimbabwe.
![Page 4: A restauranteur in Zimbabwe carries the receipts from a · PDF fileA restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank in 2008. If converted to US](https://reader031.vdocuments.mx/reader031/viewer/2022030406/5a8032e97f8b9aa24f8c42e3/html5/thumbnails/4.jpg)
German children stacking bundles of worthless paper money in 1923.
![Page 5: A restauranteur in Zimbabwe carries the receipts from a · PDF fileA restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank in 2008. If converted to US](https://reader031.vdocuments.mx/reader031/viewer/2022030406/5a8032e97f8b9aa24f8c42e3/html5/thumbnails/5.jpg)
Postage stamp from Germany in 1922, needed to mail one letter.
500,000 Dinara from Yugoslavia in 1988
![Page 6: A restauranteur in Zimbabwe carries the receipts from a · PDF fileA restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank in 2008. If converted to US](https://reader031.vdocuments.mx/reader031/viewer/2022030406/5a8032e97f8b9aa24f8c42e3/html5/thumbnails/6.jpg)
50 billion Dinara from Yugoslavia in 1989.
![Page 7: A restauranteur in Zimbabwe carries the receipts from a · PDF fileA restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank in 2008. If converted to US](https://reader031.vdocuments.mx/reader031/viewer/2022030406/5a8032e97f8b9aa24f8c42e3/html5/thumbnails/7.jpg)
One Hundred Million Mark Note from Germany in 1922.
Inflation in Germany in 1922 moved so fast, the central bank did not have time to
produce new money fast enough, so they took 1000 Mark notes that had become
worthless and overprinted them with ‘one billion Marks’. A while later the
banknotes were printed only on one side.
![Page 8: A restauranteur in Zimbabwe carries the receipts from a · PDF fileA restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank in 2008. If converted to US](https://reader031.vdocuments.mx/reader031/viewer/2022030406/5a8032e97f8b9aa24f8c42e3/html5/thumbnails/8.jpg)
Inflation in Turkey in the 1990’s required a fistful of money to buy groceries.
A street sweeper sweeps up worthless Hungarian Pengo’s in 1946.
![Page 9: A restauranteur in Zimbabwe carries the receipts from a · PDF fileA restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank in 2008. If converted to US](https://reader031.vdocuments.mx/reader031/viewer/2022030406/5a8032e97f8b9aa24f8c42e3/html5/thumbnails/9.jpg)
Gold has always been the ‘go-to’ investment, during periods of financial turmoil.
![Page 10: A restauranteur in Zimbabwe carries the receipts from a · PDF fileA restauranteur in Zimbabwe carries the receipts from a day’s activity to the bank in 2008. If converted to US](https://reader031.vdocuments.mx/reader031/viewer/2022030406/5a8032e97f8b9aa24f8c42e3/html5/thumbnails/10.jpg)
This chart shows the rising price of gold expressed in German Marks between 1914
and 1923.