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After WWI, Germany had huge reparations to pay, and eventually abandoned the sterling basis as backing for the currency. The banks were allowed to print money as they felt fit, and (roughly) over a ten-year period, 1 Mark inflated to 1 trillion Marks! The banking industry was dominated by the Jews, and this gave them a bad image.

Not just in Germany - it is suggested that the pop culture status of Bonnie and Clyde in the US was a response to (several thousand) small banks going bankrupt. So bankers were not an admired class. And Bonnie and Clyde were just robbing bankers!

In Germany, the anti-Jewish feeling was merely part of a general antagonism against anything that was non-Aryan. Many other minority races suffered the same fate as the Jews. But this was after Hitler was firmly in power.

Because of the general failure of economists to control the currency, most countries took the absolute power to create currency out of the hands of private bankers. This mostly happened in the 30's depression, but some states still allowed this until the 60's.

The ratio of deposits to loans is still not well controlled.

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13y ago

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