/biz/ - Business & Finance

Anonymous Tue Jun 7 07:31:05 2022 No.49424377 [View]
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>>49423595
>Why the debasement?
Germany was broke after WWI, so after they got a new Gold-backed currency, the Reichsmark, it was made in the same denominations and sizes as the original Mark coins, but in .500 Silver because that was the highest purity they could afford to use. When the Nazis came to power, they upped the purity to .625, but shrunk the coins so they had the same ASW.
The Mark and the Reichsmark were both backed by the same anount of Gold, but the Reichsmark was on a Fractional Reserve Gold Standard and couldn't actually be redeemed for Gold like its predecessor could.

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