Posted 09/22/2011 04:21 am
After the First World War, Germany was defeated - and bankrupt. The economy collapsed, and people completely lost faith in the new government's ability to run the country. The result: the worst hyperinflation the world had ever seen up to that time. When it was first issued (1st November 1920) this note had an exchange rate of about 2 American dollars. Exactly one year later, its exchange value had fallen to 30 cents. And that was just the beginning - two years after that (November 1923), a 1 pound loaf of bread cost 3,000,000,000 marks.
The portraits on this note are copied from the Bamberg Horseman, an early mediaeval statue situated inside the Bamberg cathedral.
The portraits on this note are copied from the Bamberg Horseman, an early mediaeval statue situated inside the Bamberg cathedral.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
