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I was just thinking of hyperinflation. In Germany hyperfinlfation led to savings being destroyed, but anyone who had his savings (or better debt) in his house was ok. The government only expropriated savers, not owners of real stuff. Afterall, in most countries exporpiration by the government is illegal, inflation not.

An ex-colleague of mine in Munich had a grandfather who owned a whole street in Munich. During the height of the hyperinflation he sold it for many many millions. They actually found a whole chest full of money after he died tucked away in the basement. Everytime my colleague tells that story he gets really sad because today the rent would suffice to easily pay for anything he could ever dream of. So he is still working and paying off his house...

by crankykarsten (cranky (where?) gmx dot organisation) on Thu Jun 4th, 2009 at 09:27:10 AM EST
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Well, the Wiemar hyperinflation is a story of an exceptionally dysfunctional society. But in the case of the US, there has been previous rounds of nationalisations - such as the gold expropriation during Roosevelt.

And those took stuff away from citizens, nevermind furriners who speak funny.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Jun 4th, 2009 at 02:23:37 PM EST
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