'When money dies'

I have been reading 'When Money Dies' by Adam Fergusson, this is an outstanding work, on the causes of the hyper inflation suffered in Germany during the Weimar Republic after WWI. It lays out in extreme detail the causes and the build up to the collapse of the Mark. We can only imagine the absolute chaos that Germany was undergoing at this time and Adam Fergusson does this fantastically. One thing that stands out is the wealth transfer that took place between borrowers and savers. The German middle classes where financially obliterated in every sense. Savings were destroyed and salaries became worthless, leaving those in the public sector, and those reliant on salaries wiped out. On the other side those with  hard assets, gold foreign currency, and manufacturing capacity survived relatively intact, borrowed money cheaply engaged in currency speculation, and price manipulation etc, etc sounds familiar.

Speculators, and currency manipulators made fortunes, and those with the foresight to buy assets set themselves on a route to riches. Obviously we all know the outcome of destroying the middles classes, and he came with an odd looking moustache and a head full of madness. So hopefully our leaders can see the folly of allowing the destruction of the value of the Dollar and the Pound, etc. Check out the link or email me and I'll send you a copy!

http://prudentinvestor.blogspot.com/2010/07/when-money-dies-by-ferguson-can-be-read.html

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