Effects of Inflation- Confidence in the Currency
Texte du Storyboard
- Germany, 1923- Town square
- Austch! 322% monthly inflation? It is HYPERINFLATION!
- Monthly Inflation rate: 322%
- Monthly Inflation rate: 322%
- Komm und kaufe die Zeitung! Come and buy the newspapers! Learn the new inflation rates!
- Let's see what the newspaper says...
- Monthly Inflation rate: 322%
- 1918- Germany was forced to surrender in WW1 due to shortage of resources & blockades. Mass destruction was everywhere, leaving people devastated
- I am taking so much Mark (money)! But with such high price levels I doubt it will even be worth a loaf of bread...
- At home...
- Versuchen Sie Ihr Bestes... Try your best... we have lost control of this situation and our confidence in money
- At the market place...
- Sir, we no longer accept money, it has become very unstable. We prefer commodities that are actually useful or have worth. Your top hat can buy you quarter a loaf...
- So everybody is shifting to barter system... Fine, you can have my hat and my watch for 4 loaves of bread
- You're saying all my money isn't even worth half a loaf of bread? What will we do to afford food?
- Due to hyperinflation, money had lost its value
- The barter system took over money as the medium of exchange. Money could not even sustain their basic necessities
- Factory workers protested and rioted in mass when they found that the salary they had received was useless. People tried to get rid of money by burning it or running away from it
- Wir wollen kein Geld! Bringen Sie unser Essen zurück! Verbrenne alles Geld!
- We don't want money! Bring our food back! Burn all money!
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