TGF Premium ⭐ analyst75 Posted September 6, 2023 TGF Premium Share Posted September 6, 2023 “Ever hear that saying, “I’m up to my eyeballs in debt”? Well, after World War I, Germany was up to its highest church steeple -- 530 feet high at the time -- in debt. (Fun fact: The Ulm Minster, completed in 1890, is still the tallest church in the world.) The reparations required by the Treaty of Versailles were enormous: to the tune of 132 billion gold marks, worth more than $500 billion today. By the way… It took 92 YEARS for Germany to pay the full amount, making its final debt payment on October 3, 2010. Can you guess what Germany did when it received its first bill in the mail? It printed a whole lot of money. That way, it reasoned, it could buy foreign currency, and then pay off the debt faster. But as the government continued to flood the market with newly-printed money, something happened: the value of the Mark began to plummet. (Gasp!) This led to a destructive cycle wherein, by late 1922, the German government could no longer afford NOT to print, and the Mark's value went into a freefall. Prices skyrocketed. A loaf of bread, which cost 250 Marks in January 1923, had rocketed to 200 billion Marks by November 1923. People's life savings were wiped out overnight. The infamous images of people carrying wheelbarrows full of cash to buy a single loaf of bread were a harsh reality. This, of course, laid the groundwork for civil unrest, paving the way for extremist political movements, including the one led by the guy with the funny mustache, which would ultimately plunge the world into World War II. The currency collapse playbook is pretty similar throughout history. Loads of debt + Loads of printing = Loads of chaos. “It Can’t Happen Here” While this is certainly on the extreme end… History is littered with examples of currencies going kaput, hurling nations into chaos. Zimbabwe, Argentina, Venezuela, and more are just the latest examples. But the most powerful currency in history -- the US dollar -- is immune to such shocks… Right? Well, that’s what most people think.” – Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/ Link to comment Share on other sites More sharing options...
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