Mefo bills were issued to mature in six months, but with a provision for indefinite 90-day extensions at the government’s behest. To further entice investors, Mefo bills carried an annual interest rate of 4%, higher than that of other trade bills at the time.
To make sure that the bills were never exchanged for Reichsmarks, which would lead to inflation, the 90-day maturation period was continually extended until the maturation was changed to a period of five years by 1939.[6] The exact total volume of Mefo bills issued was kept secret. However, as previously stated, it is assumed billions were printed.
Plus the whole “Let’s steal everything from our Jewish population”, which combined with the not paying people thing, sounds to me like the whole Nazi Economic Miracle is a bit of a “the secret ingredient is crime” economic approach.
cool video on this era, follow up from post hyper inflation period
How the Nazis created an economic miracle
https://m.youtube.com/watch?v=yRlbUeji01U
Also known as unsustainable debt.
they did wayyy more than that though, the economic shuffling they did was amazing
it always confused the hell out of me how a bankrupt nation could build an army that could take on the world
One neat trick that economists don’t want you to know about! (It’s not paying people)
Plus the whole “Let’s steal everything from our Jewish population”, which combined with the not paying people thing, sounds to me like the whole Nazi Economic Miracle is a bit of a “the secret ingredient is crime” economic approach.
I mean… they even stole their fucking teeth.
tbf, it’s also one part “Not doing the fuckwit austerity thing”