Friday, November 26, 2010

Reading for the day: postwar German currency reform. Some guidance on how the American occupiers of Germany & the West Germans managed to get out from under the disastrous burden of destroyed German infrastructure & massive liquidity left over from inflationary wartime Nazi financial policies & debts.

Heavily politicized process, though. I kind of think it only worked *because* it was overseen by a foreign military occupation government. The potential for politically-directed corruption in the burden-equalization-fund and the escrow-account feature of the conversion law appears vast.

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