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A comment on The Worst Hyperinflations in History: Hungary in 1946 (2014). Parent comment
Somalia hasn't had a national government in 25 years, so there's no central authority to regulate the money supply or print currency.
Consequently, 98% of the bank notes in circulation are now poor-quality counterfeits, and buyers and sellers know they're fake.
The market has reached an equilibrium, with a single 1000-shilling denomination that trades at approximately the cost to print it.
Hyperinflation ends when the value of the currency equals the cost to print it, and when the population won't accept arbitrarily larger denominations.
You don't need a government to create a useful currency. Hyperinflation can begin and end with or without a government.
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Somalia hasn't had a national government in 25 years, so there's no central authority to regulate the money supply or print currency.
Consequently, 98% of the bank notes in circulation are now poor-quality counterfeits, and buyers and sellers know they're fake.
The market has reached an equilibrium, with a single 1000-shilling denomination that trades at approximately the cost to print it.
Hyperinflation ends when the value of the currency equals the cost to print it, and when the population won't accept arbitrarily larger denominations.
You don't need a government to create a useful currency. Hyperinflation can begin and end with or without a government.