The current situation also shows how few people take the effort to go back in time and see how things were done in the past. It would reveal the lies in the current system. Monetary history is not taught in schools for a reason, I guess.
A personal note. After WWI all European nations went through inflation. My mother remembers a story of her grandmother (my greatgrandmother) living in Belgium. After the war her sons went off to France to help rebuild the country. They made a small fortune together, and brought it back home. It was enough to buy several houses. My greatgrandmother was not a sofisticated woman; she put all of the money her sons brought back under the mattress. Bank accounts were not for the common folk in those days; also, if you were not married, it was customary to turn in all of your earnings at the family money manager (the mother). After two years inflation had sky rocketed; the money had lost most of its value. Her sons were angry over the handling of the money. They could hardly afford a new costume for one of the sons' marriage.
Only the Weimar inflation is known, but all European countries (war-participants) suffered heavy inflation. That seems like a forgotten fact nowadays.
Thank you for your illuminating and very interesting comment.
As a child, I remember my grandparents had several months supply of tins of meat, vegetables and fruit stowed away in the out houses. Could of been because of the effects of rationing in the UK during WWII and the 1930's depression.
Oh so right, and so is the monetary system not taught in University economic courses.
HISTORY TELLS US ALL A LOT OF WHAT TO EXPECT IN THE FUTURE. IT ALWAYS RHYMES!
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