Under the mattress

摘要

At the beginning of 1923 the German mark stood at 7,260 to the dollar. By October, hyperinflation had pushed that rate to 65 billion. Fixed incomes and savings became worthless. But one readily available investment retained its value. According to Frederick Taylor, the author of a new history of the period, shares in German firms, by and large, kept pace with the inflation, protecting from ruin the lucky few who had invested in them.