“Inflation took the basic law-and-order principles of loyalty and trust to the extreme.” Martin Geyer, Historian.
“As things stand, the only way to finance the cost of fighting the war is to shift the burden into the future through loans.” Karl Helfferich, an economist in 1915.
“There is a point at which printing money affects purchasing power by causing inflation.” Eduard Bernstein, socialist in 1918.
The Great War ended on the 11th hour of November 11th, 1918, when the signed armistice came into effect. Though this peace would signal the end of the war, it would also help lead to a series of further destruction: this time the destruction of wealth and savings.
The world’s most famous hyperinflation event, which took place in Germany from 1921 and 1924, was a financial calamity that led millions of people to have their savings erased.