Looks like Hungary is currently in pole position.
https://www.cato.org/blog/comprehensive-list-hyperinflations-history
I wonder which current fiat currency can steal the top spot.
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Looks like Hungary is currently in pole position.
https://www.cato.org/blog/comprehensive-list-hyperinflations-history
I wonder which current fiat currency can steal the top spot.
I think the only reason the US isn't #1 is because since we have the defacto world reserve currency we can export our inflation through QE. Zim and Hungary never had a prayer...
You are completely correct, I am sure that the dollars will come home to roost though when other countries begin to realise that it isn't even good for being toilet paper.
The dollar is so toxic, this is such an epic time to be alive. When the Great British Pound was world reserve It took about 10 years for contracts denominated in GBP to wash out of the global system. The dollar will never "collapse", that would throw global system into MAD. All 198 developed nations would suffer beyond belief, there would be no winners... I feel like it will go the exact opposite way, the G20 nations with any sense will eventually turn East and isolate the US and petrodollar hegemony just like Russia and China have been doing since 2010 by settling trade payment in Rubles and CNY. Once Chines gold back RMB bonds go global, then a "safer" reserve currency can replace the dollar without throwing us into WW3. They're just not ready yet, China doesnt have the full infrastructure operational globally, like the Fed does with SWIFT. I also don't think China has enough RMB bonds monetized to meet global demand to take over the dollar right now. I think the world has to find a way to keep kicking the can down the road and avoid war until China is mature enough to fill the role. The upside for us is we buy silver and gold at insanely suppressed prices...thanks JP Morgan! Scum bags....