In Hungary in the 1940’s, while the country was experiencing the worst hyperinflation in recorded history, they issued a bank note with a denomination of 100 quintillion Hungarian pengős, which was worth approximately US $0.20.
JP Morgan bailed out banks in 1907 but a severe recession occured anyway. Nelson Aldrich, a powerful senator with close ties to Morgan, led a mission to Europe in 1908 to study the workings of the central banks in England, France and Germany. The Federal Reserve was created a short time later.
It was practically illegal to own gold in the US from 1933 to 1974. Roosevelt signed an Executive Order to force all citizens to turn in almost all gold for about $20 per ounce, then declared the value of $20 in gold to be worth $35 in paper currency – creating a massive inflation.
In 1997 Albanian Pyramid Schemes which made up half of the nation’s economy ran out of money causing protests and sparking the Albanian Civil War.
There’s a Hot Waitress Economic Index – an informal measure of the state of the economy that is compiled by counting the number of attractive people working as waiters/waitresses.
There is an African Union which aims to have a currency union similar to the Euro. One suggested name for this currency union is the “Afro.”
Before the fall of the German Wall, East Germany lacked significant resources to manufacture cars. As a result, the Trabant automobile used recycled cotton waste for the body instead of steel.
Americans wasted US$2 billion in 2015 putting premium gasoline into cars that don’t need it.
Mike Merrill has modeled his life after the stock market. He’s issued 1,000 “shares” of himself and life decisions are made by his shareholders’ votes. Some of the life decisions his investors have made for him are his hair color, the car he drives, his love interests, and even his diet.
Onions are the only commodity banned from futures trading in the United States. The Onion Futures Act was passed in 1958 after two traders cornered the onion market in Chicago controlling 98% of all available onions.