Maintaining Gold Reserves

[Sig]

http://www.wsj.com/articles/cash-st...rs-for-dollarsat-fluctuating-rates-1480428000

I think it's different in Zimbabwe.
Looks like the corrupted govt is trying to print off more Zimbabwean notes in the future to replace US dollars since they are short of US dollars to pay bills to their employees.
I think sooner or later, they will face the some super inflation again.
They're kind of people who never learn

Very well could be the case, the never learn part I mean.

 

[Humpy]

Apparently 1 elephant turd = a billion dollars = 1 loaf of bread.

 

[dealmaker]

During the hyperinflation of the 1920's and right after WW2, people were buying homes for .10 on the Deutsche Mark / Reichsmark throughout Germany. You could buy a home for literally pennies. I read a book about WW2 (After the Reich ....excellent book) and in Berlin they were trading unsmoked cigarette butts for window panes.

If things got really desperate and you had to trade gold and silver for food etc...you are likely to get shot during the trade.

Super inflation is prime time for Forex traders....

 

[sle]

During the hyperinflation of the 1920's and right after WW2, people were buying homes for .10 on the Deutsche Mark / Reichsmark throughout Germany. You could buy a home for literally pennies. I read a book about WW2 (After the Reich ....excellent book) and in Berlin they were trading unsmoked cigarette butts for window panes.

If things got really desperate and you had to trade gold and silver for food etc...you are likely to get shot during the trade.

Dislocations like these are special to war or famine, they have little to do with inflation. There are numerous stories about WWII where people would trade a gold ring for a few loaves of bread. Economists call this "relative scarcity".

 

[dealmaker]

During the hyperinflation of the 1920's and right after WW2, people were buying homes for .10 on the Deutsche Mark / Reichsmark throughout Germany. You could buy a home for literally pennies. I read a book about WW2 (After the Reich ....excellent book) and in Berlin they were trading unsmoked cigarette butts for window panes.

If things got really desperate and you had to trade gold and silver for food etc...you are likely to get shot during the trade.

In post WWI Germany they had 100B Deutsche Marks ( "When Money Dies")...

 

[Sig]

In post WWI Germany they had 100B Deutsche Marks ( "When Money Dies")...

Which was so remarkable that we all know about it. The fact that it is remarkable, and not something that everyone has experienced, says a lot in and of itself.

 

[donnap]

Heh, there is the infamous story of someone stealing a suitcase full of money during the German hyperinflation.

He dumped the money and took the suitcase.

 

[java]

Which was so remarkable that we all know about it. The fact that it is remarkable, and not something that everyone has experienced, says a lot in and of itself.

Makes you think twice about losing a war.

 

[donnap]

Makes you think twice about losing a war.