
This is what happens when inflation rises 13M% - thekagenimind
https://twitter.com/TheKageniMind/status/777581516767494144
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thekagenimind
Your currency devalues beyond recognition and printing ever-higher currency
denominations becomes the only way to prevent people from having to carry
duffel-bags of paper-money every time they need to buy a carton of milk.
Ultimately bank notes are no-longer 'Legal Tender' but 'Bearer Cheques' that
'promise to pay the bearer on demand' (although we all know that will never
really happen).

~~~
dalke
As a counter-example to your thesis, I point to the Rentenmark, introduced to
stop the hyperinflation during the Weimar Republic. Quoting
[https://en.wikipedia.org/wiki/German_Rentenmark](https://en.wikipedia.org/wiki/German_Rentenmark)
:

> Although the Rentenmark was not initially legal tender, it was accepted by
> the population and its value was relatively stable. The Act prohibited the
> recently privatised Reichsbank from continuing to discount bills and the
> inflation of the Papiermark immediately stopped.

> Thus the monetary policy spearheaded by Schacht at the Reichsbank and the
> fiscal policy of Finance Minister Hans Luther brought the period of
> hyperinflation in Germany to an end. The Reichsmark became the new legal
> tender on 30 August 1924, equal in value to the Rentenmark. This marked a
> return to a gold-backed currency in connection with the implementation of
> the Dawes plan.

That sounds like the bearers were paid for taking something which wasn't legal
tender.

