[Image: Charge of German infantry against the Russian fortress of Novogeorgievk, 1915. Germans sieging Russians in Poland in other words, soon all to have their currencies collapse.]
In «Airplane crashes aren’t ‘hyperlandings’: Notes onZimbabwe» I outlined the long history of conflict, colonialism, ethnic/political schisms, corruption, bad policy choices, disease, and how these combined with an elite dictator class desperate to cling to power in Zimbabwe. The elite attempted to cling to power by adding ever more zeros to the currency; this was the result of all of the above, not cause.
I had planned to go into the same detail for a post on Venezuela and Weimar, the other primary cases one hears mentioned time and again.
However, I realize there is really no need. The details differ, but one can look at any basic political and general history of Weimar or Venezuela and plug in almost all of the…
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