In January of 1919, one ounce of silver was worth approximately 12 Deutsche Marks. By the end of 1923, one ounce of silver was worth 543,750,000,000 Deutsche marks. Unfortunately, the similarities to the years immediately preceding the Weimar hyperinflation are uncanny to our current fiscal and debt crisis.
For a visual picture of what will happen to the dollar value of silver during a hyperinflation, we present a chart of Deutsche Mark silver from 1919-1923 below.
SD reader George writes that Wikipedia’s summary about what happened in Weimar Germany seems like deja-vu to today’s circumstances:
Here is a small excerpt…
Adolf Hitler himself in his book, Mein Kampf, makes many references to
the German debt and the negative consequences that brought about the
inevitability of “national socialism”. The inflation also raised
doubts about the competence of liberal institutions, especially
amongst a middle class who had held cash savings and bonds. It also
produced resentment of bankers and speculators, whom the government
and the press blamed for the inflation crisis.
Sounds EXACTLY like what is happening today. Maybe this will encourage SD
readers to “stay the course?”
Chart source: BullionMark