There are numerous examples throughout history where the monetary reform took place within a single nation usually involving the substitution for a new unit of account for the previously devalued unit of account.

The German inflation which followed WW1, is a particularly telling example. Because it is not so far in the past, it took place in an advanced western nation, it was accompanied by so much that is normal to the advanced stages of inflation, and it played a big part in preparing the way for Hitler, who is understood by many to be a very clear "type" of the beast. Another example further removed in time was the inflation that accompanied the French Revolution. The Book "Fiat Money in France" is an excellent presentation of what happened then.1. It shares something in common with the German experience where the backing of the fiat money was concerned. In both cases land was used to back the currency.2. In Germany that was part of the interim solution, and it worked, in France it was part of a miserable failure.

"During the French revolution there were two types of currencies. First Assignats in Livres currency (1790 - 1796) and later Mandats Territoriaux in Franc currency (1796 - 1797). Based on a royal decree (November 2, 1789) the revolutionary government issued Assignats on April 16, 1790 (the first issue was 400 million Livres). By February 19, 1796 (about 45 billion Livres were in circulation) the Assignats were withdrawn from circulation. All Assignats found in any bank were publicly burned on that day. Assignats in private possession were registered. On March, 18, 1796 all registered Assignats were replaced by the Mandats Territoriaux. The exchange rate was 30 Livres to 1 Franc. The Mandats Territoriaux were withdrawn from circulation in February 1797. Between March 1797 and January 1800 there was no paper money in circulation in France. In January 1800 when the Banque de France was founded, the inflation came to an end." 3.

The following are examples of three bank notes that were part of the latter end of the German experience. The first is a one trillion Mark bank note issued in November of 1923. By then it had gotten so bad that people had to be paid twice a day in order to get to the market while the money had enough value to buy something. Bank notes had to be printed locally, in order to get them to the market on time to still have some purchasing power.

The next is the Rentenmark, backed in part by land,4. and used as an interim replacement for the inflated currency at an exchange rate of one trillion "Papiermarks" to one new Rentenmark

This last is the Reichsmark that took the place of the temporary Rentenmark in August of 1924. Together with the Rentenmark, it remained in circulation until 1948. The Reichsmark brought a return to the gold standard, and was pegged at the same rate as the old Goldmark.

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And so it will be with Babylon; the gold and the silver will have been so corrupted, taken so far from their original purity, integrity, and intent, so distorted by conformity to graven images, that they will be cast into the street.

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1. White, Andrew Dickson. "Fiat Money Inflation in France." Irvington on Hudson, NY.: The Foundation for Economic Education, Inc., 1959.

2. Ibid, "As Germany had no appreciable gold reserves, the currency was guaranteed against the assets of the country, namely land and railways. Schacht's success in stabilizing the currency was largely due to the population's willingness to trust the new Rentenmark." http://encyclopedia.farlex.com/German+rentenmark

3. Juergen Peschke in correspondence with the author in connection with his supply of the images associated with the French, and German inflations.

4. http://encyclopedia.farlex.com/German+rentenmark

5. Images supplied courtesy of Juergen Peschke, website: http://geld.huehnerbla.de/