Pittsburg, Kansas | Bankers, industrialists and farmers got rich during the hyperinflation. There was a horrendous transfer of wealth. People who had massive debts paid them back for pennies on the dollar. Anyone on a fixed income or who had savings lost everything and could hardly afford to buy food, let along pay ordinary bills. As things got worse, tax revenues plummeted, so they just printed the money the government needed, reinforcing the cycle. Most people didn't know what hit them. It was kind of surreal how people reacted. I guess a person had to be there to understand it fully. John |