“Shortly after we took this family photo in 1951, Dad decided to buy a second home in Brazil, where we experienced the worst inflation of the 20th Century. One day, the president announced an appeal to patriotism — ‘gold for Brazil.’ All loyal citizens were asked to collect any gold they had in their home and donate it to the government. Later, when inflation surpassed an annual rate of 2,000 percent, the government got so desperate it didn’t bother making public appeals. It summarily announced that everyone’s bank accounts were frozen and everyone’s savings were confiscated.”
http://www.moneyandmarkets.com/the-worst-inflation-in-my-lifetime-51073
Related posts:
Bill Bonner: The Real Reason American Capitalism Is Failing
Chris Hedges: The Treason of the Intellectuals
Don’t Be Fooled, ObamaCare Will Drive Up Unemployment and Healthcare Costs
Hong Kong Wrong [2006]
Mark Lerner: The Chilling Effect of Domestic Spying
Bill Bonner: How to Disappear Without a Trace
Why the Doctor Can’t See You
What Uber Can Teach Us About American Government
How the Military-Industrial Complex Preys on the Troops
Few Dare Discuss Social Security and the Decline in Full-Time Employment
Love It or Hate It, You’re Missing What Really Matters About Bitcoin
A Second Passport with Dominica—My Experience
The Global Status Quo Strategy: Do More of What Has Failed Spectacularly
Iran and Iraq, BFF (Best Friends Forever)?
How to Be a YouTube Star and Beat Justin Timberlake in the Charts