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| 'A printing we will go' |
Q: For Mr Ben Bernanke. What became of the German Mark during the Weimar Republic? (circa 1923)
A: Well, finance is a very complexin' subject and thankfully I'm an expert , so sleep easy friends...but to answer your question: Ah now, hmm...well, if my memory ain't goose steppin' an' playing Aryan tricks on me, er there was a little bitsy inflation goin' on.
Q: Oh Mr B, don't be modest. Show your prowess with the ol' number crunchin' routine.
A: Well if you insist. Now let's see. E=mc something...no, that's not one of mine. Er.....Yes, I remember now. It's kinda like the equations that brain box Hawkins uses when calculatin' comological type things.
So using my Fed addin' up gizmo....hmm....looks like a largish number. Excuse, while I hit the desk a couple of times...gives the ol' battery a bit extra life. Now let's see...hmm. Gone pretty big again.
Q: How big Mr B?
A:Well... it says here in the little window of my Fed all purpose calculator...oh, there just has to be a malfunctioning occurance goin' on here. There just ain't enough room for all the little, though of course very important, zero number things.
Q: Well, how big Mr B?
A; Ok, ok... I'll start with the er, Rate of Inflation: 3.25x10 to the power 6. Hey, what d'you know. That's surely a cosmological stars in the Milky Way number! Geez. Can't wait to a inform ma President. If we keep them good old printin' boys wokin' 24/7 we'll sure beat THAT number!
OK ,so I'm illustrating a serious point with hopefully a bit of humour, but the serious side is that this was the actual rate of inflation in 1923 mainly created by doing EXACTLY what the FED is now doing!
PS: The Bank of England is doing the same, so no smuggery from the Brits.

