Does history repeat? It does if we keep trying to solve economic problems by letting politicians solve our problems by making promises which they fulfill by having their central bank print more and more money. Paying off war debts was the harbinger for post WWI Germany (Weimar Republic) and the fertile soil for tyrants to arrive as protection and leave with blood.
12 January 1922 Adolf Hitler sentenced to three months.
24 June 1922 Hitler Incarcerated. Also:
Walter Rathenau assassinated.
German mark was 272 to 1 American dollar
27 July 1922 Hitler released.
July 1922 670 marks = 1 US dollar
August 1922 2,000 marks = 1 US dollar
27 October 1922 Benito Mussolini establishes his Fascist dictatorship in Italy.
October 1922 45,000 marks = 1 US dollar
22 November 1922 Dr. Wirth leaves office
November 1922 100,000 marks = 1 US dollar
27 December 1922 France occupies the Ruhr to ensure payment of war reparations in kind. The Weimar government responds by funding ‘passive resistance’ of the workers through printing Papiermarks, further fueling hyperinflation.
30 December 1922 500,000 marks = 1 US dollar
February 1923 Reichsbank buys back Papiermark; stabilizes value at 20,000 to 1 US dollar
May 4, 1923 ℳ 40,000 = 1 US dollar
May 27, 1923 Albert Leo Schlageter, a German freebooter and saboteur, was executed by a French firing squad in the Ruhr. Hitler declared him a hero that the German nation was not worthy to possess.
June 1, 1923 ℳ 70,000 =1 US dollar
June 30, 1923 ℳ 150,000 = 1 US dollar
August 1-August 7, 1923 ℳ 3,500,000 = 1 US Dollar
August 13, 1923 Dr. Wilhelm Cuno (No party affiliation) Leaves office
August 15, 1923 ℳ 4,000,000 = 1 US Dollar
September 1, 1923 ℳ 10,000,000 = 1 US Dollar
Around September 10 to September 25, 1923 Prices reportedly rise hourly in several German cities.
September 24, 1923 Chancellor Stresemann ends the passive resistance in the Ruhr; infuriates the nationalists.
September 30, 1923 Major Fedor von Bock crushes a coup attempt by the Black Reichswehr. Also:
ℳ 60,000,000 = 1 US Dollar
October 6, 1923 Dr. Gustav Stresemann (People’s) forms 2nd cabinet
October 20, 1923 General Alfred Mueller marches on Saxony to prevent a communist takeover. Also:
General Otto von Lossow in Bavaria is relieved of command by Berlin; he refuses.
October 23, 1923 Communist takeover of Hamburg
October 25, 1923 Hamburg uprising suppressed
November 8, 1923 Beer Hall Putsch
November 9, 1923 Beer Hall Putsch quelled.
November 12, 1923 Dr. Hjalmar Schacht was named ‘’Reichswaehrungskommissar’’.
November 15, 1923 Rentenmark issued, with value backed by mortgage payments on state property; Rentenmark 4.2 = 1 US dollar; at this time:
Papiermark 4,200,000,000 = 1 US dollar
November 30, 1923 Dr. Stresemann leaves office.
A big part of writing is talking to readers about your book. Actually, in my opinion, the most interesting part of writing is about talking to readers about what they think about the world. As Phoenix Republic is a dystopian novel about a financial collapse of western culture, my discussions tend to be about what inspired me to write such a gloomy novel, or is something like what happened in Phoenix Republic really coming to America? I often answer by asking people to scan the headlines and ask themselves if what they see gives them a feel for life in America today. In the last couple of weeks we had some of the following headlines about stories that any one of which would have been earthshaking only a few years ago. Today they are more or less all happening all at one time. Here are just a few examples.
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