Warning: The magic method Preloader_Plus\Preloader_Plus::__wakeup() must have public visibility in /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-content/plugins/preloader-plus/inc/preloader-plus.php on line 94 Warning: The magic method Preloader_Plus_Pro\Preloader_Plus_Pro::__wakeup() must have public visibility in /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-content/plugins/preloader-plus/preloader-plus-pro/inc/preloader-plus-pro.php on line 59 Warning: Cannot modify header information - headers already sent by (output started at /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-content/plugins/preloader-plus/inc/preloader-plus.php:94) in /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-includes/rest-api/class-wp-rest-server.php on line 1768 Warning: Cannot modify header information - headers already sent by (output started at /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-content/plugins/preloader-plus/inc/preloader-plus.php:94) in /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-includes/rest-api/class-wp-rest-server.php on line 1768 Warning: Cannot modify header information - headers already sent by (output started at /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-content/plugins/preloader-plus/inc/preloader-plus.php:94) in /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-includes/rest-api/class-wp-rest-server.php on line 1768 Warning: Cannot modify header information - headers already sent by (output started at /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-content/plugins/preloader-plus/inc/preloader-plus.php:94) in /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-includes/rest-api/class-wp-rest-server.php on line 1768 Warning: Cannot modify header information - headers already sent by (output started at /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-content/plugins/preloader-plus/inc/preloader-plus.php:94) in /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-includes/rest-api/class-wp-rest-server.php on line 1768 Warning: Cannot modify header information - headers already sent by (output started at /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-content/plugins/preloader-plus/inc/preloader-plus.php:94) in /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-includes/rest-api/class-wp-rest-server.php on line 1768 Warning: Cannot modify header information - headers already sent by (output started at /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-content/plugins/preloader-plus/inc/preloader-plus.php:94) in /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-includes/rest-api/class-wp-rest-server.php on line 1768 Warning: Cannot modify header information - headers already sent by (output started at /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-content/plugins/preloader-plus/inc/preloader-plus.php:94) in /customers/9/5/7/catherinebrown.org/httpd.www/wordpress/wp-includes/rest-api/class-wp-rest-server.php on line 1768 {"id":3013,"date":"2020-12-28T21:30:26","date_gmt":"2020-12-28T21:30:26","guid":{"rendered":"https:\/\/catherinebrown.org\/?p=3013"},"modified":"2020-12-28T21:30:26","modified_gmt":"2020-12-28T21:30:26","slug":"historys-warning-against-money-printing-through-stamps","status":"publish","type":"post","link":"https:\/\/catherinebrown.org\/historys-warning-against-money-printing-through-stamps\/","title":{"rendered":"History’s warning against money printing – through stamps"},"content":{"rendered":"

 <\/p>\n

Looking through my father’s stamp collection, I found history’s warning against money printing – a phenomenon currently taking place in the US and elsewhere under the euphemism ‘quantitative easing’. This photo essay takes us through just a few months in Germany in 1923. We start with a stamp worth a third of a Groschen…<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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Now 1, and 2.5 Groschen…<\/p>\n

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\"\"\"\"<\/p>\n

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2 Marks – 40 Marks…<\/p>\n

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\"\"<\/p>\n

 <\/p>\n

50 Marks – 100 Marks…<\/p>\n

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\"\"<\/p>\n

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100 Marks – 1000 Marks…<\/p>\n

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\"\"<\/p>\n

 <\/p>\n

2,000 Marks – 100,000 Marks…<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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20,000 Marks – 2 million Marks…<\/p>\n

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\"\"<\/p>\n

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2 million Marks – 5 million Marks…<\/p>\n

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\"\"<\/p>\n

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to 10 million Marks…<\/p>\n

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\"\"<\/p>\n

 <\/p>\n

to 20 million Marks…<\/p>\n

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\"\"<\/p>\n

 <\/p>\n

to 50 million Marks…<\/p>\n

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\"\"<\/p>\n

 <\/p>\n

to 100 million Marks…<\/p>\n

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\"\"<\/p>\n

 <\/p>\n

1 billion Marks to 2 billion Marks…<\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

2 billion Marks to 5 billion Marks…<\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

10 billion Marks to 20 billion Marks…<\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

And then the head of the central bank, Hjalmar Schacht, reset the currency on the Rentenmark, and brought the value of stamps back to single and double digits…<\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

…and even brought them back to Pfennigs – hundredths of Marks…<\/p>\n

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\"\"<\/p>\n

 <\/p>\n

The money-printing had started to fund war reparations, and was accelerated to support workers through a general strike that was called in protest at the French occupation of the Ruhr. A decade later, here is the last of Hindenburg and of the Weimar Republic. Over & out.<\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

At this time of rampant ‘quantitative easing’, here is history’s warning against money printing, expressed in a set of stamps in my father’s stamp collection from Germany in 1923…<\/p>\n","protected":false},"author":1,"featured_media":3036,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_links_to":"","_links_to_target":""},"categories":[235,155],"tags":[252,255,253,251,254],"_links":{"self":[{"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/posts\/3013"}],"collection":[{"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/comments?post=3013"}],"version-history":[{"count":2,"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/posts\/3013\/revisions"}],"predecessor-version":[{"id":3038,"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/posts\/3013\/revisions\/3038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/media\/3036"}],"wp:attachment":[{"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/media?parent=3013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/categories?post=3013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/catherinebrown.org\/wp-json\/wp\/v2\/tags?post=3013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}