Comment: I'd love to give you more

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I'd love to give you more

I'd love to give you more information but I was perhaps ten years old at the time.

I can get some more first hand accounts from the older generation (I'm 30 years old FYI)

This is what I do know:

Basically People were running from their job to the banks/exchange offices (black market types were often used when the institutions couldn't handle the influx or eventually were made illegal) to get foreign currency. Their pay checks were literally declining in value by the second. If you were delayed an hour or two to the exchange you might've lost up to 20% of your money's value due to mark up from lack of supply.

Those who had ties to (or lived in) villages (Farmers) survived fairly well. Those who had no ties to villages or black/grey market commodities didn't do as well. There were bread lines and gas lines.

Those on fixed incomes were nearly wiped out. They were selling property for pennies. $500 bucks US could buy u 10 apartments at the lowest point. There was violence on the street, there were gangs roaming about removing the shoes of children at gun point to sell for Deutsche Marks.

2 things sparked the inflation, Sanctions and foolish implementation of IMF (or whatever the precursor entity was back then) ideas for stabilizing the economy.

Inflation that started slow ended up ramping up to about 300% a day perhaps more. If you want to imagine it like this;

a pack of gum today at $0.50 was $1.50 tomorrow was $4.50 the next day, then $13.50 then $40.50. So if you bought a pack on monday you could sell it on friday for 40 bucks "profit" sadly that $40 by the time you get it in your hands might not buy you a pack of gum. lol

For more on what the grown ups (at the time) thought. I'll have to get back to you.