Comments on: Life under hyperinflation http://olivebarrel.com/blog/2006/05/04/life-under-hyperinflation/ Films about life Wed, 07 Jan 2009 09:48:14 +0000 http://wordpress.org/?v=2.0.5 by: emre http://olivebarrel.com/blog/2006/05/04/life-under-hyperinflation/#comment-30 Sun, 07 May 2006 19:17:25 +0000 http://olivebarrel.com/blog/2006/05/04/life-under-hyperinflation/#comment-30 In Turkey, such manipulation of the money markets was commonplace in the 90s. Innumerable banks went under as the owners swiped the money and ran. Some were state insured and some were not. In the former case, the entire population ended up paying for it. Our Middle Eastern neighbors have a certain way of dealing with this: they dismember the thieves' hands. Then again, <a rel="nofollow" href="http://en.wikipedia.org/wiki/Islamic_banking">Islamic banking</a> is something of an enigma, because interest is prohibited. The situation in Turkey has improved since the passing of banking laws to comply E.U. regulations. P.S. I just realized we have the same initials. I am so slow. In Turkey, such manipulation of the money markets was commonplace in the 90s. Innumerable banks went under as the owners swiped the money and ran. Some were state insured and some were not. In the former case, the entire population ended up paying for it. Our Middle Eastern neighbors have a certain way of dealing with this: they dismember the thieves’ hands. Then again, Islamic banking is something of an enigma, because interest is prohibited. The situation in Turkey has improved since the passing of banking laws to comply E.U. regulations.

P.S. I just realized we have the same initials. I am so slow.

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]]> by: ES http://olivebarrel.com/blog/2006/05/04/life-under-hyperinflation/#comment-29 Sun, 07 May 2006 14:46:49 +0000 http://olivebarrel.com/blog/2006/05/04/life-under-hyperinflation/#comment-29 Nice picture. Ukraine went through hyperinflation too, but I was a kid back then. The only thing I remember was the rumors that hyperinflation was orchestrated in order to rob millions of their life savings. It was actually hyper-ironic to many to see the accounts that held their lifesavings in the state-run Savings Bank (that's what it was called) canceled and payed off in sums the total worth of which became equal to pennies. Nice picture. Ukraine went through hyperinflation too, but I was a kid back then. The only thing I remember was the rumors that hyperinflation was orchestrated in order to rob millions of their life savings. It was actually hyper-ironic to many to see the accounts that held their lifesavings in the state-run Savings Bank (that’s what it was called) canceled and payed off in sums the total worth of which became equal to pennies.

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