Money, banks, financial crises & a virus
Almost 100 years ago, hyperinflation shocked Germany. The German economy and the banking system were collapsed. 2023 marks the 100th anniversary of this radical break.
On this occasion, we look back at the history of money, which has been more than just a simple form of payment allready since a long time. We are currently learning how a virus not only affects the health of many people, but also keeps the global economy in suspense. The dimension of the Covid 19 pandemic for financial markets and economic structures is really not predictable yet.
Overview: Banks & financial crises
1637 Netherlands 'Tulip mania'
1873 Germany 'Panic of 1873'
1923 Germany hyperinflation
1929 US crash of the New York Stock Exchange ('Black Thursday' October, 24, start of the Great Depression)
2001 US Financial crisis (triggering event 9/11)
2008 US Bank crisis (triggering event Lehman Brothers bankruptcy September, 15)
2020 coronavirus pandemic (with unpredictable risks for worldwide economy and global financial markets)