Topics / Forgotten Fortunes
Currencies & Inflation
Coinage debasements, hyperinflations, currency pegs, and the monetary regimes that determine what money is worth.
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Argentina’s 1989–1990 Hyperinflation and the Plan Bonex Deposit Confiscation
How Argentina’s Plan Bonex swapped bank deposits for government bonds amid 1990 hyperinflation.
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The 1991 Pavlov Confiscation, the Ruble Zone Collapse, and Russia’s 2,500% Inflation
Why the Pavlov monetary reform and collapse of the ruble zone disrupted Russia’s transition in 1991–1992.
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The Swiss National Bank’s 1.20 Euro Floor and the January 2015 Frankenshock
Why the Swiss National Bank abandoned its euro exchange-rate floor in 2015 and triggered a franc shock.
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The Dutch Guilder’s Hard Peg to the Deutsche Mark and the 2002 Euro Changeover
How the Dutch guilder tracked Germany’s Deutsche Mark before the Netherlands adopted the euro.
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Italy’s 1992 Lira ERM Crisis, the Amato 0.6% Deposit Levy, and the Road to the Euro
How Italy’s 1992 lira crisis led to a deposit levy and withdrawal from Europe’s exchange-rate system.
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The 1990 German Monetary Union and the 1:1 Ostmark–Deutsche Mark Conversion
How the July 1, 1990 German Monetary Union converted East German Ostmarks to Deutsche Marks at 1:1.
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West Germany’s June 20, 1948 Currency Reform and the Birth of the Deutsche Mark
West Germany replaced the Reichsmark with the Deutsche Mark on June 20, 1948, reshaping savings, prices and postwar recovery.
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France’s 1992–1993 Franc Fort Crisis and the Assault on the European Exchange Rate Mechanism
Speculators attacked France’s strong-franc policy in 1992–1993, prompting massive interventions.
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Mansa Musa’s 1324 Gold Hajj, Cairo’s Dinar Shock, and Mali’s Monetary System
Mansa Musa’s 1324 pilgrimage made Mali’s gold wealth famous far beyond West Africa. Accounts of its effect on Cairo invite a closer look at…
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From Fiat Reserve Currency to Ruin: The Bank of Amsterdam’s 1683, 1763, and 1790 Crises
The Bank of Amsterdam gained influence through its bank money, then faced lending crises and secrecy over its assets. Its decline exposed the limits…
