RE: 200 billion German markAnother good post from CreditSuisse, imo.
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Why do you think Germany increases their Gold reserves?
Wenner Gren showed us a 200 billion German mark note dated 1923
which would have only been printed on one side in order to save costs
and speed up the printing process.
Germany was printing money like it was going out of style...day and
night...24 hours a day...7 days a week.
They did this in order to make the WWI war retribution payments which were imposed on them by the victors in 1918.
As Wenner Gren so accurately pointed out, this amount of money would
have been enough to buy a lunch or two.
People were literally carting money around in wheelbarrows (whenever
it wasn't too windy) in order to do their shopping.
Workers were paid twice a day so that they could rush out at lunch
time to do some shopping before prices went up even higher by supper time.
Peoples' life savings were naturally wiped out long before the
situation got this bad.
The old folks in Germany still remember these desperate times,
although their number is dwindling fast.
The young folks haven't got a clue what hyperinflation is all about.
Printing money without any kind of backing is total fiscal
irresponsibility and counterfeiting, plain and simple.
It ultimately leads to hyperinflation and ends with the total
destruction of a currency.
It has happened before in other parts of the world and it will happen
again in the good old USA if they don't immediately change the course
they're on.
By choosing instead to print more and more money without finding a
way to start paying off that ever growing national debt monster, is
playing with fire since that national debt monster has now taken on a
life of it's own.
There's only one way to save your future! Buy as many good Gold-
Stocks you can, before the crowds comes rushing for it!
Unfortunately sometimes generations go by and history is forgotten,
but history do repeat itself!
The extremely undervalued EGX-stock has the most potential to go from
cents to 10 or 20 dollars!
I read somewhere that Canada sold all Gold reseves except from some
coins! That was probably a mistake that goes to the history as one of
the bigger ones!
Why do you think Germany increases their Gold reserves? Think about it.
I think about it every day I see shipments of newly printed paper
currency go out into circulation.
EGX is my insurance, what's your insurance?
IMO,
Very best wishes,
CS