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Europe 1900 February 5

Europe 1900 February 5 - hyper-inflation ensues-Cup of...

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Europe 1900 February 5, 2008 - Immediate aftermath of the war, extreme inflation, the war has to be paid for. - Many states use war bonds, they ask for the war bonds to pay for it and say they will pay back after the war is won. - Germany uses all war bonds and loses, owes much money, extreme inflation. - 10% inflation in Germany in a matter of months in 1919. U.S. inflation runs at 3.4% currently. - Germany agrees to pay debts as a result of war treaty but eventually pulls out,
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Unformatted text preview: hyper-inflation ensues.-Cup of coffee costs 6,000 marks in 1920. Before the war a worker’s wage was slightly less than 2 marks. He orders another coffee an hour later and the price has gone up to 8,000 marks, in a single hour.-Merchants stop excepting paper money in Germany, it is worthless.-Big problem, one of the most important economies on the planet had collapsed in Germany....
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