🏦 Was reading about Germany's history and their currency "marks" from here [PDF]. It's scary how similar it is to today:
🇩🇪 History - "The stimulation of the government's easy money spread through virtually all levels of the German economy.
The life of the inflation in its ripening stage was a paradox which had its own unmistakable characteristics. One was the great wealth, at least of those favored by the boom."
🌏 Today - Unemployment at all time high, also 2 different people reached $200 Billion net worth.
🇩🇪 History - "Prices in Germany were steady, and both business and the stock market were booming. The exchange rate of the mark against the dollar and other currencies actually rose for a time, and the mark was momentarily the strongest currency in the world."
🌏 Today - Internet businesses and stock market at all time high. Other currencies like ₹ gaining strength or stable against $.
🇩🇪 History - "Side by side with the wealth were the pockets of poverty. Greater numbers of people remained on the outside
of the easy money, looking in but not able to enter. The crime rate soared."
🌏 Today - Record unemployment in several countries with crimes increasing in most.
🇩🇪 History - "Accounts of the time tell of a progressive demoralization which crept over the common people,
compounded of their weariness with the breakneck pace, to no visible purpose, and their fears from watching
their own precarious positions slip while others grew so conspicuously rich."
🌏 Today - The backlash against Ambani and Adani.
🇩🇪 History - "Almost any kind of business could make money. Business failures and bankruptcies became few. The boom suspended the normal processes of natural selection by which the nonessential and ineffective otherwise would have been culled out."
🌏 Today - US is pumping in billions of $ in dying sectors to keep them going.
🇩🇪 History - "Speculation alone, while adding nothing to Germany's wealth, became one of its largest activities. The fever
to join in turning a quick mark infected nearly all classes, and the effort expended in simply buying and selling
the paper titles to wealth was enormous. Everyone from the elevator operator up was playing the market."
🌏 Today - Futures and Options day trading boom.
🇩🇪 History - "The volumes of turnover in securities on the Berlin Bourse (stock exchange) became so high that the financial industry could not keep up with the paperwork, even with greatly swollen staffs of back-office employees, and the Bourse was obliged to close several days a week to work off the backlog."
🌏 Today - Robinhood Suspending Buying, Coinbase Website Down
🇩🇪 History - "All the marks that existed in the world in the summer of 1922 (190 billion of them) were not worth
enough, by November of 1923, to buy a single newspaper or a tram ticket. That was the spectacular part of
the collapse, but most of the real loss in money wealth had been suffered much earlier."
🌏 Today - Unlimted ₹ and $ printing. Rising food etc. prices.
🇩🇪 History - "Throughout these years the structure was quietly building itself up for the blow. Germany's inflation cycle ran not for a year but for nine years, representing eight years of gestation and only one year of collapse."
🌏 Today - Inflation ~10% in India. Collapse yet not happened except Venezuela, Turkey, Argentina etc. (small countries)
- @InvestRepeat
🇩🇪 History - "The stimulation of the government's easy money spread through virtually all levels of the German economy.
The life of the inflation in its ripening stage was a paradox which had its own unmistakable characteristics. One was the great wealth, at least of those favored by the boom."
🌏 Today - Unemployment at all time high, also 2 different people reached $200 Billion net worth.
🇩🇪 History - "Prices in Germany were steady, and both business and the stock market were booming. The exchange rate of the mark against the dollar and other currencies actually rose for a time, and the mark was momentarily the strongest currency in the world."
🌏 Today - Internet businesses and stock market at all time high. Other currencies like ₹ gaining strength or stable against $.
🇩🇪 History - "Side by side with the wealth were the pockets of poverty. Greater numbers of people remained on the outside
of the easy money, looking in but not able to enter. The crime rate soared."
🌏 Today - Record unemployment in several countries with crimes increasing in most.
🇩🇪 History - "Accounts of the time tell of a progressive demoralization which crept over the common people,
compounded of their weariness with the breakneck pace, to no visible purpose, and their fears from watching
their own precarious positions slip while others grew so conspicuously rich."
🌏 Today - The backlash against Ambani and Adani.
🇩🇪 History - "Almost any kind of business could make money. Business failures and bankruptcies became few. The boom suspended the normal processes of natural selection by which the nonessential and ineffective otherwise would have been culled out."
🌏 Today - US is pumping in billions of $ in dying sectors to keep them going.
🇩🇪 History - "Speculation alone, while adding nothing to Germany's wealth, became one of its largest activities. The fever
to join in turning a quick mark infected nearly all classes, and the effort expended in simply buying and selling
the paper titles to wealth was enormous. Everyone from the elevator operator up was playing the market."
🌏 Today - Futures and Options day trading boom.
🇩🇪 History - "The volumes of turnover in securities on the Berlin Bourse (stock exchange) became so high that the financial industry could not keep up with the paperwork, even with greatly swollen staffs of back-office employees, and the Bourse was obliged to close several days a week to work off the backlog."
🌏 Today - Robinhood Suspending Buying, Coinbase Website Down
🇩🇪 History - "All the marks that existed in the world in the summer of 1922 (190 billion of them) were not worth
enough, by November of 1923, to buy a single newspaper or a tram ticket. That was the spectacular part of
the collapse, but most of the real loss in money wealth had been suffered much earlier."
🌏 Today - Unlimted ₹ and $ printing. Rising food etc. prices.
🇩🇪 History - "Throughout these years the structure was quietly building itself up for the blow. Germany's inflation cycle ran not for a year but for nine years, representing eight years of gestation and only one year of collapse."
🌏 Today - Inflation ~10% in India. Collapse yet not happened except Venezuela, Turkey, Argentina etc. (small countries)
- @InvestRepeat