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I'm late for an appointment, but... I'm reminded of the example of the closing years of the Kuomintang in China, where they were suffering from massive hyperin
by cheaprentalyeti 6y ago
I'm late for an appointment, but...
I'm reminded of the example of the closing years of the Kuomintang in China, where they were suffering from massive hyperinflation. Small businesses and co-ops would bet temporary loans from the central government in its banknotes but immediately change it to silver if possible to do business with, so they wouldn't have to deal with the debasement of the real currency over the course of the year.