FORBES: Signs of the Gold Standard are Emerging from GermanySubmitted by jg10289 on Thu, 09/27/2012 - 15:36
Forbes: Good money is not only a counsel of rectitude. It is critical path to restoring vibrant prosperity and social health. Erhard (as previously noted here) reprised the characterization of Pietrre and Rueff in his memoir Prosperity Through Competition .
Germany’s economic miracle “began as the clocks struck on the day of currency reform. Only an eye-witness can give an account of the sudden effect which currency reform had on the size of stocks and the wealth of goods on display. Shops filled with goods from one day to the next; the factories began to work. On the eve of currency reform the Germans were aimlessly wandering about their towns in search of a few additional items of food. A day later they thought of nothing but producing them. One day apathy was mirrored in their faces while on the next a whole nation looked hopefully into the future.”