Maybe this is something to be prepping for...

[Jonas]

because it looks like this is what's headed our way... JP

http://www.zerohedge.com/contributed/201...orst-cases
Originally posted http://www.tothetick.com/hyperinflation-10-worst-cases

Hyperinflation – 10 Worst Cases
Submitted by Pivotfarm on 05/22/2013 13:02 -0400

I have a neat little app on my smartphone that I like to look at when I’m feeling bored. It won’t change anything in my life, but it makes me think as I see the numbers clocking up, and then suddenly stopping for a few seconds. It’s the app that tells me the how much the National Debt of each country stands at in real-time. As I sit down at my computer screen the USA National Debt amounts to $17 041 241 xxx xxx. Forgive the x’s…they’re not kisses…I tried to get the last six digits, but, there’s no point, they’re moving too fast! Speedie Gonzalez has got into that app! It works out to $54 087 per person. That’s the same value as 3 408 248 816 XXX Big Mac Meals.

Inflation is hot property today, hyperinflation is even hotter! We think we are modern, contemporary, smart and ready to deal with anything. We’ve got that seen-it-all-before, been-there-done-it attitude. But, we are not a patch on what some countries have been through in the worst cases of hyperinflation in history. Here’s the top 10 list of worst cases in history. We’ll start with the worst first…let’s think positive!

1. Hungary 1946

Inflation at its peak reached a staggering figure of 13.6 quadrillion % per month! That’s 13, 600, 000, 000, 000, 000%. The largest denomination bill was a 100 Quintillion note. Prices ended up doubling every 15 hours at the time.

2. Zimbabwe 2008

Prices doubled here every 24.7 hours in November 2008 and inflation reached levels of 79 billion-odd %. They eventually stopped using the official currency and switched to the South African Rand or the $US. A loaf of bread ended up costing $35 million. This is the most recent case. It was Mugabe’s land-redistribution program that caused this.

3. Yugoslavia 1994

In just the one month of January 1994 inflation rose by 313 million %. Prices doubled every 34 hours (which is nothing compared to Hungary). The currency ended up getting revalued 5 times in all between 1993 and 1995, all to no avail. The cause? A recession triggered by overseas borrowing and an on-going political struggle in the 1980s and the following decade.

4. Germany 1923

Adolf Hitler rose to power as a consequence of hyperinflationary pressure (at least one of the reasons). Prices doubled every 3.7 days and inflation stood at 29, 500%. Germany was crippled with the reparation payments after the Treaty of Versailles and the end of World War I.

5. Greece 1944

Prices started rising by 13, 800% in October 1944 and they doubled every 4.3 days. The trouble was the debt incurred by World War II.

6. Poland 1921

Prices rose in 1921 by 251 times in comparison with those of 1914. They doubled every 19.5 days. The Zloty was introduced as the new currency in 1924 in an attempt to start afresh. Inflation stood at 988, 233% in 1924.

7. Mexico 1982

Mexico had a rate of inflation of 10, 000% in 1982 (due mainly to too much social expenditure).

8. Brazil 1994

Inflation was 2, 075.8% at its worst in 1994. The Real was adopted in 1994 and it managed to calm inflation down.

9. Argentina 1981

The highest denomination bill was the one million pesos note. The Peso was revalued three times.

10. Taiwan 1949

This was a knock-on effect from China and the Chinese Civil War. The New Taiwan Dollar was issued in June 1949. The monthly rate of inflation stood at 399%

Inflation can be creeping (mild or moderate inflation) or galloping. We can talk of Hyperinflation and stagflation (inflation and recession). Deflation is not better. We have so many names for it.

Hyperinflation means prices doubling in such a short space of time that we can’t keep up with it all. Hyperinflation comes about at times of trouble, war, conflict, upheaval, change on unprecedented levels. It comes about because we still haven’t learnt how to control it. History repeats itself, we hear people say. Thankfully, it doesn’t repeat itself too often. Fingers crossed.

But, in the time it took for me to write this, the US National Debt is now worth $17 041 308 85xx xxx, that means 3 408 261 915 xxx Big Mac Meals!

[Straight Shooter]

Great post JP ....had my eyes on this for quite some time, thanks for sharing

[Anything Really]

i've noticed prices have been shooting up recently. Lettuce has gone up from 95p to £1.45 over the last few months, not at the above levels but still shocking.

[Mooski88]

I always thought super inflation would be only the beginning of the end. Super inflation leads to civil unrest which leads to a break down of civilisation. We need a way of regulation our population better and killing off a few billion people.

[Sunna]

good post
thanks

[Straight Shooter]

[quote='Mooski88' pid='58209' dateline='1369256325']
I always thought super inflation would be only the beginning of the end. Super inflation leads to civil unrest which leads to a break down of civilisation. We need a way of regulation our population better and killing off a few billion people.

Yeah think that's what They got planned already, be careful what you wish for Mooski88

[BDG]

(22 May 2013, 21:58)Anything Really Wrote: i've noticed prices have been shooting up recently. Lettuce has gone up from 95p to £1.45 over the last few months, not at the above levels but still shocking.

Check out what that cost drops to in Summer - lettuce is a lot more expensive to produce in winter and so what you are seeing could and is more than likely seasonal variation.

As for controlling inflation, look at what causes it - an increase in money supply. When this increase is linked to something tangible - products or materials, then a long a that sum total of products or materials is worth the same or a little more than it used to be due to the fact the materials and have increased in number while having a stable base price, inflation will not run away.

We had a period I think it was 1650-1850 or there abouts in UK where we had no inflation. Magical period, more rags to riches stories than ever before due to a stable period. As individuals got more tangible wealth, so did the economy.

When we removed the link of the worth of currency from what assets existed to what assets might exist, from what assets we hold to what might pas through our hands and what % we could take from them, we accepted it to increase our standard of living.

Governments have bough votes for many years based on borrowing on the never never.

When currencies that are based on nothing more than bravado have the bravado questioned, you're gonna have a bad time.

[Franc]

The main reason for the increase in prices, is a knock on from the cost of oil, a lot of fruit and veg is imported, that costs a lot of money.
Go for market stalls, or home grown food, the cheap stuff from supermarket has a lot of hidden costs,

[MaryN]

I've certainly noticed the rise in prices, and not just for fresh fruit and vegetables. Bought a small pack of pork pies (OH's favourite) the other day - price the same but one fewer in the packet! They get you one way or the other.