
Not a current market: a historical case study, and the one every investor reaches for when discussing monetary debasement. Included because the 1922-23 German inflation is the best-documented hyperinflation there is, and because the reparations argument behind it is a permanent part of the literature.
Why Germany could not pay the 1919 reparations, and what they would do to Europe.
An economist's first-hand analysis of Germany's inflation from 1914 to 1923.
What Germany's 1921 to 1923 hyperinflation did to ordinary people's lives.
Recommended by: Balaji S. Srinivasan
How the gold standard spread the Depression, and why leaving it early meant recovery.
How four central bankers and the gold standard turned a slump into the Depression.
“I'm going to use "classic" again but rightfully so.” — Christopher Bloomstran
Source: Semper Augustus 2020 Letter to Clients, 'To Read or Not to Read', p. 57
Recommended by: Christopher Bloomstran, Mohnish Pabrai
Germany's 1914 to 1923 inflation, with a more sympathetic view of its policy.
Monthly data tested against explanations of Germany's 1919 to 1923 inflation.
The full political, social and economic history of Germany's 1914 to 1924 inflation.
Modern retelling with more on the stabilisation and the Rentenmark.