Hyperinflation
Hyperinflation is a form of economic inflation in which the general price level is increasing rapidly. No single definition is universally accepted; one simplistic definition is a monthly inflation rate of 50%. Hyperinflation is just out-of-control inflation at an extremely high rate.Hyperinflation was rare before the 20th century, because past a certain level of inflation the economy would revert to either specie metals[?] or barter. The widespread use of fiat money created the possibility for hyperinflation as governments often tended to print larger amounts of money to finance their expenses. Such an increase in money supply is one of the main factors powering hyperinflation.
Rates of inflation of several hundred percent per month are often seen. Extreme examples include Germany in the early 1920s when the rate of inflation hit 3.25 million percent per month, Greece in the mid-1940s with 8.55 billion percent per month, and Hungary during the same approximate time period at 4.19 quintillion percent per month. Other more moderate examples include Eastern European countries in the period of economic transition in the early 1990s and in Bolivia and Peru in 1985 and 1988, respectively.
Hyperinflation produces some interesting banknotes.
One type has a big long row of zeros on the number. (like this: "10,000,000,000").
Another type uses words for part or all of the number (like this: "10 Billion" or this: "Ten Billion")
Still others avoid the use of large numbers simply by declaring a new unit of currency (so, instead of 10,000,000,000 Dollars, you might set 1 New Dollar = 1,000,000,000 old Dollars, so your new banknote would read "10 New Dollars".)
External Links
- San José State University: Episodes of hyperinflation (http://www.sjsu.edu/faculty/watkins/hyper.htm)
Charming coloured postcards, taken before the
bookshops along the quay.
Oh! this quay of Assouan, already so British in its orderliness, its
could be conceived. First of all there is the railway, which, passing
noise and joyous smoke. On one side is a row of hotels and shops, all
rooms for the use of the many amateur photographers, who make a point
grouped tastefully before some celebrated hypogeum.
And then numerous cafes, where the whisky is of excellent quality.
Cordiale/, you may.html">may see there, too, aligned in considerable quantities
whom indeed our generation does not render sufficient homage for all
guess that I have named Pernod, Picon and Cusenier.
It may be indeed that the honest fellahs and Nubians of the
tonics a little. But that is the effect of novelty, and will pass. And
for we do not all make use of it involuntarily?--that alcoholism is a
dealer in wines and spirits constitutes a valuable vanguard pioneer
of our "appetisers," become more supple, more easy to lead in the true
continual stream of fair travellers ravishingly dressed as only those
the Nile, in the shade of the young trees, planted with the utmost
protected efficaciously by means of wire-netting against certain acts
donkeys, the donkey-drivers, the stations even where they are allowed
handsome camels, fitted with riding saddles, wait also in their
of local colour, even when it is merely a question of making some
these "ships of the.
On
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