These Photos are from my family’s album
and they are a reminder of hyperinflation and the fragility of our interconnected economies.
The parts of me that are not Irish German are Austrian Dane. My great great grandpa Ferd (Ferdinand Molk) dragged his wife (Christina Neilsen) and their family across the pond 3 times (before, between and after the world wars ). These Mark notes are German, Danish, and German-Danish (Broager)
Germany: This was originally a 1,000 Mark note issued in Berlin Dec 15 1922.
Inflation was growing so rapidly at this point that there was no time to re-issue new money. This 1,000 Mark note was simply re-stamped in red diagonally across the face of the note to re-value it to 1 million Marks
20 million Marks Berlin 1923
100 million Marks Munich Sept 20 1923
Broager (Dinamarca broager)
1 Mark 1920.
This 1 Mark bill was issued in the comunnity of Broager, Feb 10 1920.
The peculiarities of this bill is the fact that it was it was issued in a Germany-Denmark territory, at the close of World War I, when when it was not definitively determined whether this territory would remain part of Germany, or be returned to Denmark, who owned prior to the war of 1854. The monetary notation “1 MARK” is German, the print is in the Danish language.
Then 22 years later it happened again
Theses pages from the Neilsen (Molk) album are a reminder of historical hyperinflation . Globally, we are in uncharted territory economically speaking. As I stated above my grandmothers family immigrated to the US twice once after WW1 and again after WW2. I feel blessed they came back to Texas. I think there should be more concern by the American 🇺🇸 people and our government needs to proceed cautiously and be aware of our actions have effects both domestically and abroad. The USA has printed lots of money in the last two years. This is not the single cause of inflation; some economists think it isn’t the cause at all but a symptom of it . However, several decades of artificially low interest rates has. Other countries have followed the US’s lead and printed more currency; this has had a more devastating effect in emerging countries. A global food shortage, supply chain issues, and the war in Ukraine has had an impact on food inflation world wide.
There is another economic unknown looming: BRICS . BRICS is an acronym for five leading emerging economies: Brazil, Russia, India, China, and South Africa. 13 other countries have expressed interest in joining BRICS. This conglomerate will account for 50% of the world’s population and 60 % of the world’s oil. This concern is an economic one not a militaristic one. Soon these countries will quit trading in US dollars. This will further devalue the US petrodollar, which has been the backbone of world trade throughout the modern era. I am not an economist and my intentions are not to spread fear but raise awareness of these pending unknowns. I am urging fiscal responsibility: try to pay off any personal debt you have and do your best t not obtain any more. Be aware of this pending change to our global economy.