Captain Bitcoin’s shield? If thehyperinflation of the German mark of the Weimar Republic lasted from 1922 to 1924, that is in the year 1923 (more precisely during the month of november), that she reaches her highest level of madness. Today, 100 years later, the specter of hyperinflation still looms, with inflations that have exceeded the symbolic 10% in the European Union And more than 9% in the United States, barely a year ago. The author of the bestseller “ Rich Dad Poor Dad “, Robert Kiyosaki, offers several solutions to protect yourself from this. And the best of them would be: Bitcoin (BTC)!
A century later, Weimar Hyperinflation remains a counterexample
Let us first briefly recall, in this first part, what theHyperinflation from 1923 and the Weimar Republic. The latter was a sort of transitional phase in the political regimes of Germany, between the end of the First World War in 1918 (which in some way marked the end of the Second Reich) and the coming to power of Adolf Hitler in 1933 (which marks the beginnings of Third Reich German).
To realize violence of the Hyperinflation of 1923, it is very telling of compare the stability of the store of value that isgold (with the Goldmarkor German gold mark, backed by a fixed quantity of pure gold) fiduciary mark of Weimar (paper money called papermark).
Between the beginning of 1923 and the month of November, it was necessary 100 million times more of papermarks to obtain the equivalent of the same Goldmark. So, in 1914, the two different marks (gold and paper) had exactly the same same value (1 for 1), it was now necessary 1,000 billion of papermark in November 1923, to amount to a single Goldmark.
Robert Kiyosaki considers Bitcoin the best protection against inflation
Coming back to the crypto news of the day, Robert Kiyosakitherefore reminds us of the 100e anniversary of the dark period of Weimar Hyperinflation, and presents various remedies so as not to suffer this catastrophic drop in purchasing power.
So, the author of the book “ Rich Dad, Poor Dad » explains that, while gold is still a good hedge against the depreciation of fiat currencies, Bitcoin would be today best way to protect yourself. He even describes, once again, Satoshi Nakamoto’s cryptocurrency as “ People’s currency “.
“I’m going to Germany right on the 100th anniversary of the Hyperinflation of 1923, which brought Adolf Hitler to power. (…) Study the hyperinflations in Germany and Zimbabwe, and prepare yourself. Food will always be valuable, as will weapons, gold and silver. However, I believe that Bitcoin is your best protection, because Bitcoin is the People’s currency, which means that it is the People who control the value of Bitcoin, not our leaders. Take care of yourself. »
After this reminder of the numbers crazy, but real of Weimar Hyperinflation, Robert Kiyosaki’s previous prediction, see Bitcoin at 1 million dollars each, is suddenly no longer so improbable. The whole question will remain to know what will a dollar be worth thenor any other fiat currency, in terms of purchasing power.