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Did the Reichsmark and Rentenmark fail when they were replaced 10:1 for Deutschmarks, losing 90% of their face value? Yes! You are cherry picking by choosing
by willmadden 4y ago
Did the Reichsmark and Rentenmark fail when they were replaced 10:1 for Deutschmarks, losing 90% of their face value?
Yes!
You are cherry picking by choosing the Euro. The point is that valuation loss to currency printing is currency failure. The vast majority of currency “replacements” are just abrupt failures, and generally coincide with a country being overthrown by a new authority.
- JumpCrisscross 4y ago> Did the Reichsmark and Rentenmark fail when they were replaced 10:1 for Deutschmarks Straw man. Nobody argued fiat never fails. > vast majority of currency “replacements” are just abrupt failure What is your source? You posted a statistic. A comment found it was based on B.S. You disagreed. I clarified the debunking argument. Now you’re throwing out straw men and a new unsourced claim.
- willmadden 4y agoNot a "straw man". It's one step back in history from YOUR example of the Deutsche Mark! Again, the broader point is that measuring a "failure" as a total collapse vs. a replacement with a possible devaluation is the strawman. Abrupt "failures" (or "replacements"... choose your euphemism) are noticed, but modern fiat currencies are constantly failing. It is easy to measure. The metric is currency debasement, what you would call "inflation" and what I would call "state sanctioned counterfeiting".
- FormerBandmate 4y agoPrices also fell by 90% and everyone kept their savings with the Reichsmark, so I'd say no. Also, the Reichsmark collapsed because of the fall of Nazi Germany, it had nothing to do with the currency itself. The Rentenmark was legitimately an absolute debacle, one of the worst of all time right up there with the Zimbabwean dollar