Internet access, thankfully, is far less abundant for me this week than snow-capped peaks and yellow-gold aspen leaves (they turn in clusters, because their roots connect them). But via a crackly car radio, I caught the news about the Fed's rate cut today and immediately recalled this passage from Adam Fergusson's When Money Dies:
Most of them clung to the mark, the currency they knew and believed in, long after the eleventh hour had come round for the umpteenth time. Most had no choice; but all were encouraged or bemused by the Reichsbank's creed of "Mark gleich Mark" -- paper or gold, a mark is a mark is a mark. If prices went up, people demanded not a stable purchasing power for the marks they had, but more marks to buy what they needed. More marks were printed, and more, and more.Fascinating times, to say the very least. More when I get back next week.