Money of Terror: Not That Kind of Socialism
@weimartifacts
There are few features of this work which make it different to any of the Weimar Artifacts we ever made available to bitcoiners. It is relatively large. We made it with red tone paper we usually use for special breed of fiat money that directly enabled various kinds of state terror. We’ve used deep red color for French assignats from XVIII as we done with Russian rubles issued by Bolsheviks to print away budged deficits.
Here we do it with Weimar bills and one bill from Nazi times. Why? First of all, they are all connected on some mysterious way. Although Nazi built fully-controlled economy they didn’t really try to print more paper money. They robbed and killed Jews, whole European countries or tried to form bi-lateral trade blocks to reduce need in gold, but they didn’t really tried Weimar recipes. Moreover, they found a legitimate ground for Nazi Reichsmark in the law from 30 August 1924 i.e. exactly in Weimar Republic after tough recovery with introduction of a new Rentenmark by Dr.Schacht and harsh austerity measures against government spending and credit expansion. It is less known that Weimar Republic economy was actually structured on a way when Nazis didn’t need to invent anything to bring more control.
Second of all, we have put into collage 4 “Brown rag” bills. These are overprinted 1 billion Weimar notes which used old pre-World War design and were printed on exceptionally bad paper. Such paper could be normally used only in packaging. Nazism which was also known in Europe as “Brown plague” spread far away from Weimar Germany to Asia or North America. It was probably no less popular movement as communism.
We tell the stories about Weimar hyperinflation from various sources and we have no intention to replace them. We ask reader to look into literature. Guttman book is as much good as rare, however “When Money Dies: The Nightmare of the Weimar Collapse” by Fergusson is widely accessible on the Internet. In this story we intended to illustrate link between crazy financial instability rooted in relentless paper money printing and nightmares of state-governed terror.
The circle of original overprinted Weimar notes with sequential serial numbers (Yes, the second name for this item was “Weimar NFT”) is aligned around Nazi-times bill with “hakenkreuz” on the face-side and should provoke beholder into thinking about links between them. We hope this story helps this a lot.
Sources:
(1) FORTY CENTURIES OF WAGE AND PRICE CONTROLS: How Not To Fight Inflation Robert L. Schuettinger, Eamonn F. Butler
(2) How it happens : Talk about the German people 1914-1933 with Erna von Pustau, by Pearl S. Buck, Erna von Pustau
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