@@Chevsilverado yeah: with raging inflation, at least I'll have large summs in paper money that can be shredded for a bed or burnt for a fire to cook hunted pigeons.
@@artbk I'm not even sure how sanitary it would be to sleep on a bed of money. Not that I haven't slept on hundred dollar bills, but still, random people touching your bed material (often without washing their hands like they do with cell phones), and shoved in people pockets next to their sweaty... you get where I'm going right?
During the German hyperinflation of 1923, there was an account of a man carrying his wages home in a large basket. He was mugged; the robbers tipped out the banknotes and ran off with the basket!
It's insane how that went. Sometimes the jumps were even between days. So one day you could buy a dozen eggs with your paycheck and the next day only 6. People had their wages devalued while walking home!
Jesus I hope that's some kind of hypothetical "this could have happened" kinda thing, I couldn't imagine working,to get paid in a Ludacris number of bills just for the basket you're lugging it home in to be stolen AND THEN having to carry it all home in some alternative fashion.
Unfortunately it's mainly just us Americans that deal with that on a regular basis. Apparently we are too dumb to realize the difference between $4.99 and $5.00. Don't even get me started on sales tax added to the sticker price at the register. If you go outside of the States, the price on the item your buying includes all tax. Could you imagine grabbing something off the shelf and you actually pay what the price tag says. Unless your buying tea. Thank the British for that one
@@jimmydepersis3130 Japan does the "tax at register" too, currently it's ￥10 for every hundred, except for food and drink, which is ￥8 on the hundred. That was the first time the "consumption tax" was different on different items, so there was a huge rush for shops to recalibrate all their tills.
Or on the flip side, when toilet paper becomes more valuable than bank notes, like at the start of the pandemic. Next election, I'm voting Cornholio for president. He'll make sure we never run out of TP again.
I was born just after the Forint was introduced and as children, we used to play with the old pengo notes. We learned the number of zeros used in the billion and septillion notes before we learned to count to 100 😃. My parents told me that people used to get paid daily and immediately rushed out to spend the money. Most transactions were done as barters, people from villages took food to the cities and exchanged it for clothes and other useful things. Tobacco was the preferred "currency" because it was easily converted to anything. A joke from that era: A guy goes into a shop and buys a box of matches. The price is 100 million, so he puts down a billion pengo note. The shopkeeper apologises that he has no small change and asks the buyer to wait a minute. The guy asks, will you have change by then? The shopkeeper answers, no but the price will go up to a billion.
@@satgurs The changeover to the forint happened in mid-summer First of August 1946. To start a fire a single bill is enough, burning a pile of paper causes a lot of smoke and a big mess (I know it from experience).
1:41 - boldog gyerekek! The children in a great depression soup kitchen sure do look happy. I guess because they're getting their picture taken, but golly!
3:02 Prior to watching this, I didn't actually know the tax man experienced fear or doubt. Now I live with the knowledge that the tax man is not invincible; he can and has been beaten. It's honestly kind of a hopeful thought.
😂 well I don't know if he was beaten, so much as he was stuck going down on a sinking ship and gave up , I have to imagine not all tax men gave up though, there was probably one still hoarding absurd amounts of paper with high hopes, a last lonley rat stealing bread crumbs from some family.
Ahhh yes the tax man truly is everyone's enemy, a unifying force across the Nations. When the majority of planet earth can come together and agree you are a spinless shitbag worthy of our actual contempt and hate , through years of killing one another over invisible men and invisible lines, everyone still agrees, I'd say that says a lot .
it is kindof like getting that spider in your bathroom with a strategic nuclear weapon, but yes eventually even the taxman won't want your money, probably because he is too busy scavenging in a dumpster for food because he hasn't been paid in weeks and even if he had his check would be worthless by the time he drove to the store, and the gas for ordering online would cost more than the product by the time it was shipped.
@@isaac7175yeah. as a person that worked there, its a tiny bit under the average wage but thats okay 💀 P.S: i didnt actually work anywhere in hungary. im irish and i never left the country 😅
As a Hungarian, thank you for representing our great country and it's citizens with such classics as the most complex bomb ever seen by the FBI and the worst hyper-inflation in history.
I was a bit surprised at this. In Norwegian, "penger" (singular: "peng", but almost never used as singular) means money. It comes from "penny". And so I had always assumed the Hungarian pengő also came from "penny".
Except that "cha-ching" is the sound of a cash register drawer opening...the old mechanical cash drawers. I believe the bell was to alert the shopkeeper if someone tried sneaking the drawer open...but who knows? Anyway, it isn't the sound of coins ringing...sorry.
@@shnmang25personally, the penny drop he used, I heard "chata" (both a's as in the first a of america, t as in an american pronounciation of the t in "bottle")
That's because it doesn't make everyone rich, it makes a select grouo very rich. And those happen to be the ones ruling over the monetairy and financial systems
There are times where it needs to happen. If you have no money, you need to make more money, and often the only way to do it is to deliberately devalue your currency by making it worth less. Obviously you can take it too far in many cases, but there are legitimate times where inflation is a good thing. Happened in both Italy and France off the top of my head.
it's rarely "to make everyone rich", it's generally done in response to a massive national crisis when the government has run out of other options. generally by the time printing money on abnormal scales is being considered things are already really bad.
we are in massive debt what should we do i know lets print money didnt that go really badly for germany hungary yugoslavia zimbabwe venezuela.... nah itll work this time
hungarian here, yeah this is still happening to the forint today, currently valued at 408 forint per 1 euro and its going up so fast that i still catch myself accidentally converting in my head using the 300 to 1 that was true a few years ago, its actually crazy and the war really isnt helping
I've got a good idea. If you don't have enough money, just _print more money!_ I am confident that this will work and see no flaws in my brilliant plan. Send me some of your extra money once you're rich as a way to say thanks.
I like how your pronunciation of pengő changed through the video. (The one sounding to 'pen-goo' was best, and I've heard a lot worse.) Appreciate you covering Magyar issues! If you're wanting to know the pronunciation for other Hungarian words in the future, Google translate has remarkably accurate text-to-voice, owing to Hungarian's near-perfect phonemicity.
@@user-yh5dc8ve8e In theory, someone could learn only the Hungarian alphabet (to perfection), and then be exposed to any Hungarian sentence and pronounce it perfectly the first time, and every time thereafter. Never going to pull that trick with English.
banks are probably slightly ignorant of the fact that money is only as valuable as the amount of goods you can buy with it (their main method of making money involves borrowing money to pay off borrowed money, in turn creating ever-increasing debt bublle that explodes with epic proportions)
If the people in charge of a bank says it's a good idea to "just print more money," it's time to lock them up in an insane asylum, or have them charged with treason. Because either they've gone completely nuts, or they're actively trying to sabotage the country.
another hungarian here. Inflation was only in full effect for bureaucracy purposes back then. Nobody actually traded for money once they realized it's worthless. I asked grandpa in detail about this and he said that at the beginning of the whole thing people just got back to bartering so inflation was really only a problem for instances where bartering was not possible
It's not even hard to pronounce, he didn't even give it a try. A lot of languages has the /ø~œ/ sound, and knowing how to pronounce it is something worth knowing if you're going to pronounce a lot of European words.
Great story. I knew about this as a child, because just as the currency was suffering from terrible inflation, so were the postal costs and, therefore, the postage stamps. I have many of the stamps from 1945-46, which are still quite affordable today - with these crazy, ridiculous numbers on them. It was how I learned “ezer”, “mil”, and “bil” in Hungarian by the time I was six years old. Well done, I have already subscribed and always enjoy your work! Cheers from New Orleans, USA!
"Call your currency korona, Get invaded by your ally, and don't stop printing money to spite the haters who claim to be expert economists" - Hungarian Sigma Sextillionaire grindset
You got two choice if something likes this happens: You let people die starving or you start to print money even if the inflation goes up. I am glad Hungary picked the money printing.
As a Hungarian I really appreciate this from you. Quite nicely explained. I still have old Pengő with me at home, mostly it has collectors value, nothing more. 😊
I’ve never heard anyone who isn’t from my area in Appalachia use the word “skullet” & before now, I never knew that I really needed to. So cheers to ya for that.
@@thepsychedeliccartographer5765 a mullet where the “business in front” past is just bald head showing cause the person is likely in denial that they are going bald to begin with. It’s a very unfortunate take on the mullet really. (I live in East Tennessee btw)
@@amberswafford9305 🤣 okay now it makes sense I just rewatched the whole video to look for context 🤣 that is seriously the most American thing I may have ever seen. As if the mullet wasn't bad enough , and just to make it clear, my feeling on the mullet is love hate, anyone of my friends who's decided to rock it knew it looked ridiculous and basically they liked it anyhow and they were very much "in the know" about the joke. So I do think it's hideous but the vibe is goofy and fun and I've never met a boring person with a mullet. The skullet is however.... Just sad 🤠cover that part up with a 5gallon hat
@@amberswafford9305 I really think it has to be like a Power Mullet though, no dainty greasy rat tail will do, full frontal spikage, long full back, and shaved on the side, like Mr T if he was white 🐻❄️.
The way I see it this recession most likely has an external cause. The United States is losing influence as a federal currency for the first time in decades. They don't have any more economies to utilise to control their inflation, and less money is being spent on stock and oil trading than previously. They all lend credence to the hypothesis that a new multilateral world order may be in the works.
@@obodoaghahenry9297 Please would you mind suggesting a professional with a variety of investment options? extremely rare, and I eagerly await your response
@James Vigor Having a counselor is essential for portfolio diversification. My advisor is “Julie Anne Hoover'' who is easily searchable and has extensive knowledge of the financial markets.
@@marcelrobert9569 Have a counselor is essential for portfolio diversification. My advisor is "gay porn" who is easily searchable and has extensive knowledge of the financial markets.
Well, I lived through a hyperinflation in Yugoslavia in early 1990s. You had to spend the entire salary on the same day because tomorrow morning, when the new prices come, it would be worthless. A monthly magazine would be published on the 1st of the month and you could buy in on the 2nd with money found laying on the street. After a few months they started nominating the prices in points, which were tied to German marks.
In Brazil in the early 90s people would all rush to the supermarket the exact day the paycheck arrived, which was usually the 5th and bought food for one month for the same reason
Those are novelty items and not real banknotes. Genuine notes are printed on special paper and often sell for over $100. Years ago you could buy these for $3-$5 each and it’s amazing how much a previously worthless note is now making a comeback in value as a collectible.
@@DanielRafaczironically the 100 trillion note is now worth more than it ever was. infact its so valueable now u could actually use the 10 20 50 and 100 trillion notes as 10 20 50 and 100 dollars (altho the rarity is mostly artificial as some groups monopolized millions of the notes and sell them for this price)
I don't understand how though hundreds of thousands of years, the fact that governments still don't learn that printing more money doesn't work is baffling
technically in the digital age, you don't even need to print money, money prints itself. if the government just removed the need to hold a certain amount of money an unlimited amount of money would be created.
nteresting how 2% inflation has been a concern when central banks and the Fed begin to hike interest rates. I consider the rising interest rate to be a very serious issue since it will undoubtedly cause more investors to withdraw their money from the stock market. This may have worked when I was only using a few thousand dollars to invest, but it is more challenging to decide to withdraw more than $365,000 from my account at this point. Despite the severe bear market, I am aware of certain investors that continue to earn that amount. I wish I could accomplish that.
Damn, I need to start getting paid the equivalent in Pengos. That way when someone asks “how much do you make?” I could say “you don’t have enough ink in that pen to write all the 0’s on my cheque” 🤣
As a Hungarian, I can tell you that having one of those bank notes as a collector is pretty cool. I like my countries history and the reliqs from it too.
@@tt-tk9076 Oi, other ppl might want to use an emoji or two, yeah? Y'ever think of that? Not fair for you to use 'em all up, now, izzit. Learn ta share mate.
In economics the phrase "shoe leather tax" is sort of a rule of thumb joke about this. The idea being before the advent of online banking and debit cards no one wanted to keep cash on them because it was constantly going down in value so fast, so everyone went to the bank so often their shoes would wear out prematurely.
My grandfather had one of those notes. Sadly he passed away but his chest full of rare coins and bank notes remained. He had like red army notes, old forints and stuff like that. I've held one of those egymilliárd b-pengő.
I love the videos and i love it that you put in some bloopers at the end. It's refreshing someone can make such good videos and still have the humility to show some bloopers. Appreciate you bro! I wish you the best.
To picture the extremity, if you could buy just one *atom* of hydrogen for one pengő, then you can fill up the Hindenburg for 27 forints, or so I've heard.
Yo Zimbabwean here. Good video. We're currently going through massive recession since 2016 when they re-introduced the *bond note* as a stable currency in competition with the USD. The excabce rate is no where near as bad as it was way back when, but we're slowly starting to get there again. Current exchange rate is nearing 1000 bond notes to one USD
I have one of these, as well as the Szazmillio B-Pengo. I am always "that guy" who pipes up whenever someone say "hay guyz wanna see my 100 trillion dollar note?"
During the German inflation, you would be standing in line to buy bread and the next thing you know is that mid way through the prices of bread have risen up
I heard that during the German inflation, workers were paid salary twice a day, and given an hour or two to do purchases before returning to work. And when they returned to work, their salaries had gone up.
0:32 a sextillion happens when a few million dollar notes get together with a few billion dollar notes and have an all night party fuelled by alcohol and white powders 😂
Depends where you live. In the US it's a weird situation. Prices have inflated because production was forced to shut down, but the value of the dollar is actually up very high relative to most other currencies because so many nations are opting to use dollars over their own currencies for the sake of the dollar's legendary stability. Basically, even though many, many US dollars have been printed in the last four years, more have been exported to other countries than kept in America, so the US itself is actually experiencing *deflation* which is normally good, but the production cuts mean everyone still has to outbid each other for limited amounts of goods
@@barneyboyle6933 i just assumed that people have that already under normal circumstances... am i wrong? Half my friends and family have 100x more ammo than food.... and no silver or gold at all.
the only other time I ever hear numbers as high as Sextillion thrown around is when Death Battle uses cartoon logic to realistic extremes for measuring explosions and stuff XD
Numbers like that can show up in astronomy. In physics, if you do things like count the atoms in things big enough to see, the numbers get bigger, but those mostly stay in scientific notation. Some idle games like Cookie Clicker use absurd numbers like that due to exponential growth.
I feel that this is a well timed video for us Americans as inflation is getting worse and worse.😂🤠 Thanks for the great video Qxir! Love the Bloopers at the end!🤣
@@AdamFoster cartography is just essentially mapping and understanding the geography, so psychedelic cartography is what I call blasting myself into another dimension through psilocybin, DMT, and other psychedelics to better understand the deep intricate ways in which my mind , and by extension other peoples minds to a degree work. Also I do this to understand what is happening on a biological level that makes users of something like DMT have extremely similar experiences,I feel that this understanding of self is what makes users of psychedelics feel like they are "one with the universe or with other humans" or some people even feel this with something as seemingly mundane as water itself. But thank you for the interest in the name, to be honest I got the name from a throw away segment in a conversation by a man named Duncan Trussell. If you want an actual understanding of psychedelics without doing them listen to this man, he seems a bit unhinged but he is a very smart man.
American soldier: "Hey, can you give me change for a dollar?" WW2 Hungarian: * dumps out a semi truck of the highest denomination banknotes in history * American soldier: * muffled from under literal mountain of paper * "Thanks!" Hungarian: " no problem " * cries in inflation *
I love that you had the Pingu clip in your last 3 seconds, that's all I could really think of during the whole intro of the video.....Pingu, Broke You......
I found out about this currency just yesterday while browsing Wikipedia about hyperinflation, I was extremely astonished by it. The Georgian currency ''coupon'' reached a 1,000,000 banknote in 1992-1994 economic crisis during the three-front civil war, and I thought that was as large as one could get, but finding out about Zimbabwean dollar and later the Hungarian Pengo really opened my eyes towards the worst that the hyperinflationverse has to offer.
I have one of the 10 quintillion Pengo notes, its fun to show off to people, though I also then have to go into an explanation of long vs short form numbers. Fun fact, basically nobody stateside knows about long form numbers (millard, billard, etc) so explaining why a billion is a trillion is rather difficult.
Interesting that they had a currency named pengo as the Danish word for money is penge. I suspect there is a relation between the two, even though Danish and Hungarian are mostly unrelated, and that it has to do with the sound of falling silver coins ;-)
Makes sense even in an unrelated language, if you just try to sound out natural phenomena you will arrive at similar words. Just like how you describe a passing car with some variety of "whooosh" and anyone will understand.
Hey man, just a quick note to say ive been watching all your content since finding your channel a year ago and want to thank you fort the work you do. its much appreciated.
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Do a video on the port Arthur massacre Tasmania Australia
who else saw a new vid in the inbox that was privatized before you watch it something about Lincon
Your saying pengő in the wrong way (the end actually).
Only, 1 sextillion subs ? Why not 1 sextillion sextillion subs. *MWAH HA HA* - Places pinkey finger near my lip
A good rule of thumb is, when your bank starts listing your balance in scientific notation there is no point checking it any more.
Or when you start measuring paper currency by weight or volume.
It would be worse actually since your bank account balance would stay the exact same but the prices of food will be listed in scientific notation.
@@Chevsilverado yeah: with raging inflation, at least I'll have large summs in paper money that can be shredded for a bed or burnt for a fire to cook hunted pigeons.
@@artbk I'm not even sure how sanitary it would be to sleep on a bed of money. Not that I haven't slept on hundred dollar bills, but still, random people touching your bed material (often without washing their hands like they do with cell phones), and shoved in people pockets next to their sweaty... you get where I'm going right?
@@jakegarrett8109 It was all probably fresh from the printers. No one had time to spend it before it was worthless.
During the German hyperinflation of 1923, there was an account of a man carrying his wages home in a large basket. He was mugged; the robbers tipped out the banknotes and ran off with the basket!
It's insane how that went. Sometimes the jumps were even between days. So one day you could buy a dozen eggs with your paycheck and the next day only 6. People had their wages devalued while walking home!
Jesus I hope that's some kind of hypothetical "this could have happened" kinda thing, I couldn't imagine working,to get paid in a Ludacris number of bills just for the basket you're lugging it home in to be stolen AND THEN having to carry it all home in some alternative fashion.
@@kotzpenner Thanks for uselessly rewording the original comment
At least nowadays I get direct deposit and needn't worry about my valuable baskets being stolen.
@@contraband1543 I was giving more examples?
Even as meaningless as the Pengo became, I'll bet retailers still priced their items with that ".99" at the end.
Probably wasn't enough space on the paper at that point lol
Probably not. This fenomen became popular in the 90's, at least in east Europe
Unfortunately it's mainly just us Americans that deal with that on a regular basis. Apparently we are too dumb to realize the difference between $4.99 and $5.00. Don't even get me started on sales tax added to the sticker price at the register. If you go outside of the States, the price on the item your buying includes all tax. Could you imagine grabbing something off the shelf and you actually pay what the price tag says. Unless your buying tea. Thank the British for that one
@@jimmydepersis3130 Canada does that too, only things that actually include tax price is liquor, beer, etc. (for obvious reasons, I suppose haha).
@@jimmydepersis3130 Japan does the "tax at register" too, currently it's ￥10 for every hundred, except for food and drink, which is ￥8 on the hundred. That was the first time the "consumption tax" was different on different items, so there was a huge rush for shops to recalibrate all their tills.
I don't know much about economics, but I think a good rule for inflation is that once it's cheaper to use bank notes as toilet paper, it's all over.
Or stuffing it into walls as insulation. Either way... loo or walls, time to stick a fork in it.
Or on the flip side, when toilet paper becomes more valuable than bank notes, like at the start of the pandemic.
Next election, I'm voting Cornholio for president. He'll make sure we never run out of TP again.
If an American penny wasnt a coin it would be cheaper to use that than toilet paper
@@TriflingToad The penny also has the advantage of being reusable.
@@MattExzythe outlet?
I was born just after the Forint was introduced and as children, we used to play with the old pengo notes. We learned the number of zeros used in the billion and septillion notes before we learned to count to 100 😃.
My parents told me that people used to get paid daily and immediately rushed out to spend the money. Most transactions were done as barters, people from villages took food to the cities and exchanged it for clothes and other useful things. Tobacco was the preferred "currency" because it was easily converted to anything.
A joke from that era: A guy goes into a shop and buys a box of matches. The price is 100 million, so he puts down a billion pengo note. The shopkeeper apologises that he has no small change and asks the buyer to wait a minute. The guy asks, will you have change by then? The shopkeeper answers, no but the price will go up to a billion.
wow waiting for you money to loss value , just to skip on change sounds like something from a fever dream !
did people not just use the pengo as fire starter? like that's all it wwould be good for at that point
@@satgurs The changeover to the forint happened in mid-summer First of August 1946. To start a fire a single bill is enough, burning a pile of paper causes a lot of smoke and a big mess (I know it from experience).
my mom still has a jar of these old bank notes
1:41 - boldog gyerekek! The children in a great depression soup kitchen sure do look happy. I guess because they're getting their picture taken, but golly!
3:02 Prior to watching this, I didn't actually know the tax man experienced fear or doubt. Now I live with the knowledge that the tax man is not invincible; he can and has been beaten. It's honestly kind of a hopeful thought.
😂 well I don't know if he was beaten, so much as he was stuck going down on a sinking ship and gave up , I have to imagine not all tax men gave up though, there was probably one still hoarding absurd amounts of paper with high hopes, a last lonley rat stealing bread crumbs from some family.
Ahhh yes the tax man truly is everyone's enemy, a unifying force across the Nations. When the majority of planet earth can come together and agree you are a spinless shitbag worthy of our actual contempt and hate , through years of killing one another over invisible men and invisible lines, everyone still agrees, I'd say that says a lot .
🤣
Joker < tax man < hyper inflation
it is kindof like getting that spider in your bathroom with a strategic nuclear weapon, but yes eventually even the taxman won't want your money, probably because he is too busy scavenging in a dumpster for food because he hasn't been paid in weeks and even if he had his check would be worthless by the time he drove to the store, and the gas for ordering online would cost more than the product by the time it was shipped.
Yeah imagine “so how much are you paying me an hour?” “5 trillion” “that’s it?!?!”
"And the second hour? I need a 10% hourly adjustment to keep up you know"
"I can't even buy candy with that!"
That would be about 0.00000006 USD. You would need to work for 1902.588 years to get 1 USD. That’s an awfully inefficient job.
@@isaac7175yeah. as a person that worked there, its a tiny bit under the average wage but thats okay 💀
P.S: i didnt actually work anywhere in hungary. im irish and i never left the country 😅
@@isaac7175 I could probably work 2 of those years
As a Hungarian, thank you for representing our great country and it's citizens with such classics as the most complex bomb ever seen by the FBI and the worst hyper-inflation in history.
You guys have a long ways to go before you catch up to Cleveland.
Never would've thought my country would get featured on this channel like this lmao
Proud hungarian 🇭🇺
Hát miután a nagyapám ládájában rátaláltunk erre az érme és bankjegy gyűjteményében, onnan már nem volt kérdéses a helyzet ami volt. És még lehet.
dat komment
I couldn't hear this man say "pengo" without continuously thinking of Pingu.
"Noot Noot!"
same
goddammit thanks a lot now I can't unhear it
noot noot
1:24 “The word Pengo is onomatopoeic for ringing” so they literally named their currency the Cha-Ching💰 😂
I was a bit surprised at this.
In Norwegian, "penger" (singular: "peng", but almost never used as singular) means money. It comes from "penny". And so I had always assumed the Hungarian pengő also came from "penny".
I hear "peng"
Except that "cha-ching" is the sound of a cash register drawer opening...the old mechanical cash drawers. I believe the bell was to alert the shopkeeper if someone tried sneaking the drawer open...but who knows? Anyway, it isn't the sound of coins ringing...sorry.
@@TheEudaemonicPlague How does one completely miss the joke and yet still explain the punchline..
@@shnmang25personally, the penny drop he used, I heard "chata" (both a's as in the first a of america, t as in an american pronounciation of the t in "bottle")
The number of times in history "printing more money to make everyone rich" has been tried is really quite concerning
That's because it doesn't make everyone rich, it makes a select grouo very rich. And those happen to be the ones ruling over the monetairy and financial systems
There are times where it needs to happen. If you have no money, you need to make more money, and often the only way to do it is to deliberately devalue your currency by making it worth less. Obviously you can take it too far in many cases, but there are legitimate times where inflation is a good thing. Happened in both Italy and France off the top of my head.
it's rarely "to make everyone rich", it's generally done in response to a massive national crisis when the government has run out of other options. generally by the time printing money on abnormal scales is being considered things are already really bad.
@@deejaydaiel9181not even them.
we are in massive debt what should we do
i know lets print money
didnt that go really badly for germany hungary yugoslavia zimbabwe venezuela....
nah itll work this time
hungarian here, yeah this is still happening to the forint today, currently valued at 408 forint per 1 euro and its going up so fast that i still catch myself accidentally converting in my head using the 300 to 1 that was true a few years ago, its actually crazy and the war really isnt helping
Maybe we should give up on trying to manage our currencies and just adopt the euro at this point
The euro is one step away from hyperinflation
Freakin Americans...
I've got a good idea. If you don't have enough money, just _print more money!_ I am confident that this will work and see no flaws in my brilliant plan. Send me some of your extra money once you're rich as a way to say thanks.
@@grizzlyaddams3606 grizzly adams was an American, mind you!
Can’t wait to start hearing numbers I’ve never heard of…
Well that is the bright side. We get to learn what comes after trillion
You said hearing twice
@@billp4 quadrillion
@@billp4 well I know
Look how many planets are in the game No Man Sky.
That's a missed opportunity, someone could've bought the whole country for $20
Great!
“I’ll have the country for 20 bucks.”
"an australian man sold new zealand for 1 cent"
You would've needed a wagon of pengős to carry 20$
right, what do you think the US did with all the loans
I like how your pronunciation of pengő changed through the video.
(The one sounding to 'pen-goo' was best, and I've heard a lot worse.)
Appreciate you covering Magyar issues! If you're wanting to know the pronunciation for other Hungarian words in the future, Google translate has remarkably accurate text-to-voice, owing to Hungarian's near-perfect phonemicity.
Noot noot.
@@Corrosive_Fluid I was thinkin' the same thing lmao
That's exactly why I love Hungarian. There's no need to guess the pronunciation of a word when you read it.
@@user-yh5dc8ve8e In theory, someone could learn only the Hungarian alphabet (to perfection), and then be exposed to any Hungarian sentence and pronounce it perfectly the first time, and every time thereafter.
Never going to pull that trick with English.
It was close enough, at least he tried. Ő is hard if you are not used to making that sound
I left 1,000,000,000,000,000,000,000,000,000,000,000,000 thumbs up, but the exchange rate only left 1
Oh mu god ok
😅
Wow 1 undecillion, close to the amount of rubels russia is suing google for
When the banks says that it's a good idea to just print more money, you know things are absolutely insane
banks are probably slightly ignorant of the fact that money is only as valuable as the amount of goods you can buy with it
(their main method of making money involves borrowing money to pay off borrowed money, in turn creating ever-increasing debt bublle that explodes with epic proportions)
What could go wrong?...
If the people in charge of a bank says it's a good idea to "just print more money," it's time to lock them up in an insane asylum, or have them charged with treason. Because either they've gone completely nuts, or they're actively trying to sabotage the country.
another hungarian here. Inflation was only in full effect for bureaucracy purposes back then. Nobody actually traded for money once they realized it's worthless. I asked grandpa in detail about this and he said that at the beginning of the whole thing people just got back to bartering so inflation was really only a problem for instances where bartering was not possible
This is what I had imagined would happen in such a bad situation. But this is really awesome insight 👍
But people who had the bills continued to dump them immediately at worse and worse prices
I know it's really hard to pronounce our language, but I laughed my ass of every time you said "pengú"
It's not even hard to pronounce, he didn't even give it a try. A lot of languages has the /ø~œ/ sound, and knowing how to pronounce it is something worth knowing if you're going to pronounce a lot of European words.
Even Google translate pronounces it like P-E-N-G-O-e-H
He got pretty close once, early in
Great story. I knew about this as a child, because just as the currency was suffering from terrible inflation, so were the postal costs and, therefore, the postage stamps. I have many of the stamps from 1945-46, which are still quite affordable today - with these crazy, ridiculous numbers on them. It was how I learned “ezer”, “mil”, and “bil” in Hungarian by the time I was six years old.
Well done, I have already subscribed and always enjoy your work! Cheers from New Orleans, USA!
"Call your currency korona, Get invaded by your ally, and don't stop printing money to spite the haters who claim to be expert economists" - Hungarian Sigma Sextillionaire grindset
Czechia, Sweden, Norway, Denmark and Iceland still using k(o)rona as the currency.
You got two choice if something likes this happens: You let people die starving or you start to print money even if the inflation goes up. I am glad Hungary picked the money printing.
The blooper section is a nice addition. Almost as nice as the membership emojis.
As a Hungarian I really appreciate this from you. Quite nicely explained. I still have old Pengő with me at home, mostly it has collectors value, nothing more. 😊
I’ve never heard anyone who isn’t from my area in Appalachia use the word “skullet” & before now, I never knew that I really needed to. So cheers to ya for that.
I am from West Virginia....what does skillet mean exactly???🤣
@@thepsychedeliccartographer5765 a mullet where the “business in front” past is just bald head showing cause the person is likely in denial that they are going bald to begin with. It’s a very unfortunate take on the mullet really. (I live in East Tennessee btw)
@@amberswafford9305 🤣 okay now it makes sense I just rewatched the whole video to look for context 🤣 that is seriously the most American thing I may have ever seen. As if the mullet wasn't bad enough , and just to make it clear, my feeling on the mullet is love hate, anyone of my friends who's decided to rock it knew it looked ridiculous and basically they liked it anyhow and they were very much "in the know" about the joke. So I do think it's hideous but the vibe is goofy and fun and I've never met a boring person with a mullet. The skullet is however.... Just sad 🤠cover that part up with a 5gallon hat
@@thepsychedeliccartographer5765 I love a good mullet myself.
@@amberswafford9305 I really think it has to be like a Power Mullet though, no dainty greasy rat tail will do, full frontal spikage, long full back, and shaved on the side, like Mr T if he was white 🐻❄️.
I heard there was a sign in the German bathrooms saying "Please don't use the money as toilet paper... It clogs the toilets"
2:41 - Wait, the entire Hungarian economy was worth 10 US cents?
i know how they couldve saved it. just print octillion pengo notes im sure that would work
@@chenzo6165decillion bills is a go!
scratch that, vigintillion bills!
Currency in circulation is not the entire economy but yeah, it doesn't make sense. I think qxir did not research this one very well.
Also the conversion rate toward the end from pengő to forints would mean that one forint is worth 48 million US dollars
The way I see it this recession most likely has an external cause. The United States is losing influence as a federal currency for the first time in decades. They don't have any more economies to utilise to control their inflation, and less money is being spent on stock and oil trading than previously. They all lend credence to the hypothesis that a new multilateral world order may be in the works.
@@obodoaghahenry9297 Please would you mind suggesting a professional with a variety of investment options? extremely rare, and I eagerly await your response
@James Vigor Having a counselor is essential for portfolio diversification. My advisor is “Julie Anne Hoover'' who is easily searchable and has extensive knowledge of the financial markets.
Wow, I could use a hoover to help clear up my excess money too, where can I find this legend
My advisor "Julie anne hooker" advises me the
Shittiest advice, he is an easily fuckable and highly appreciated sex worker.
@@marcelrobert9569 Have a counselor is essential for portfolio diversification. My advisor is "gay porn" who is easily searchable and has extensive knowledge of the financial markets.
Well, I lived through a hyperinflation in Yugoslavia in early 1990s. You had to spend the entire salary on the same day because tomorrow morning, when the new prices come, it would be worthless.
A monthly magazine would be published on the 1st of the month and you could buy in on the 2nd with money found laying on the street. After a few months they started nominating the prices in points, which were tied to German marks.
This sounds exactly like Brazil at the time. Only we tied up our prices to the US dollar.
@@slohmann1572 2022 in Venezuela similar.
In Brazil in the early 90s people would all rush to the supermarket the exact day the paycheck arrived, which was usually the 5th and bought food for one month for the same reason
Thank you for the callback of the Stick man coin. I'm always glad to watch your videos!
I have 2 of those Zimbabwean notes. They're very well printed on some kind of metallic looking card stock. Paid $2.
What denomination notes do you have?
@@peterpumpkineater6911 $100,000,000,000,000
(100 Hundred Trillion)
Those are novelty items and not real banknotes. Genuine notes are printed on special paper and often sell for over $100. Years ago you could buy these for $3-$5 each and it’s amazing how much a previously worthless note is now making a comeback in value as a collectible.
@@DanielRafacz not being worth anymore is unironically the only way some of those currencys can work
@@DanielRafaczironically the 100 trillion note is now worth more than it ever was. infact its so valueable now u could actually use the 10 20 50 and 100 trillion notes as 10 20 50 and 100 dollars
(altho the rarity is mostly artificial as some groups monopolized millions of the notes and sell them for this price)
I don't understand how though hundreds of thousands of years, the fact that governments still don't learn that printing more money doesn't work is baffling
You don't get rocket scientists in government, you get the lowest of the bunch, everyone else goes on to do something productive.
same with a lot of people, they think that printing a lot of money will solve poverty and help the economy
@@joshuajoaquin5099 especially when is already documented
technically in the digital age, you don't even need to print money, money prints itself. if the government just removed the need to hold a certain amount of money an unlimited amount of money would be created.
@@Alsry1 yea but banks and all that. Besides there would need to be some kind of gold sink so inflation doesn’t go crazy
Imagine a bank having to display your balance in scientific notation
I just googled "hungarian pengő".
The result said: Inflation: 2.9×10^177%; (annualised rate, July 1946)
Yeah, that's pretty high.
We appreciate the time and effort you put into every video.
THANK YOU
nteresting how 2% inflation has been a concern when central banks and the Fed begin to hike interest rates. I consider the rising interest rate to be a very serious issue since it will undoubtedly cause more investors to withdraw their money from the stock market. This may have worked when I was only using a few thousand dollars to invest, but it is more challenging to decide to withdraw more than $365,000 from my account at this point. Despite the severe bear market, I am aware of certain investors that continue to earn that amount. I wish I could accomplish that.
Bot
Damn, I need to start getting paid the equivalent in Pengos. That way when someone asks “how much do you make?” I could say “you don’t have enough ink in that pen to write all the 0’s on my cheque” 🤣
As a Hungarian, I can tell you that having one of those bank notes as a collector is pretty cool. I like my countries history and the reliqs from it too.
It's a worry when Avogadro's Constant is needed to count one's money.
Idk, but if it has "Sex" in it, it can't be all that bad. Can it?
Hahhahahaa😐😐😐
hahaa
"Sex" "Inflation" 💀💀💀💀
@@tt-tk9076 Oi, other ppl might want to use an emoji or two, yeah? Y'ever think of that? Not fair for you to use 'em all up, now, izzit. Learn ta share mate.
Well it's money, so "change" may also be in there.
So it could be pretty bad.
Just look up John Money's change.
0:11 It's kinda admirable that they can actually still laugh about that, lol
I think they were protesting but smiled because of the camera
In economics the phrase "shoe leather tax" is sort of a rule of thumb joke about this. The idea being before the advent of online banking and debit cards no one wanted to keep cash on them because it was constantly going down in value so fast, so everyone went to the bank so often their shoes would wear out prematurely.
the fact that the name of the pengö currency literally means "bling" is hilarious to me
A more acurate translation would be "the one that twangs" or maybe "ringer" actually.
As someone born and raised in Venezuela, I can confirm this does indeed suck.
Germany in 1923: we don’t have money.
Of course we have, we just need to print more of it…
Google would be needing these notes.
20 trillion to be specific
True
Venezuela: I have the most worthless currency ever.
Hungary: Hold my goulash.
Okay but like Hungarian Goulash is the best soup ever.
@@runnerman1424 Yep. Only 1 sextillion pengos for a bowl.
More like hold my palinka 😂
@@runnerman1424 it already melted the metal bowl
@@enikoszabo7775he holds the palinka, loses the ability to stand upright
The Pingu at the end has made this the best video on RUclips.
My grandfather had one of those notes. Sadly he passed away but his chest full of rare coins and bank notes remained. He had like red army notes, old forints and stuff like that. I've held one of those egymilliárd b-pengő.
I love the videos and i love it that you put in some bloopers at the end. It's refreshing someone can make such good videos and still have the humility to show some bloopers. Appreciate you bro! I wish you the best.
To picture the extremity, if you could buy just one *atom* of hydrogen for one pengő, then you can fill up the Hindenburg for 27 forints, or so I've heard.
Yo Zimbabwean here. Good video. We're currently going through massive recession since 2016 when they re-introduced the *bond note* as a stable currency in competition with the USD. The excabce rate is no where near as bad as it was way back when, but we're slowly starting to get there again. Current exchange rate is nearing 1000 bond notes to one USD
I have one of these, as well as the Szazmillio B-Pengo. I am always "that guy" who pipes up whenever someone say "hay guyz wanna see my 100 trillion dollar note?"
Hungary really went “screw inflation we use different currency” twice
Thank you so much for the Pingu reference at the end.
During the German inflation, you would be standing in line to buy bread and the next thing you know is that mid way through the prices of bread have risen up
I heard that during the German inflation, workers were paid salary twice a day, and given an hour or two to do purchases before returning to work.
And when they returned to work, their salaries had gone up.
0:32 a sextillion happens when a few million dollar notes get together with a few billion dollar notes and have an all night party fuelled by alcohol and white powders 😂
Nahhh
Nope, that would be a quadrillion banknote.
It would be a few billion dollar notes getting together with a few trillion dollar notes.
This was genuinely amazing great video
Nominal value vs real value is so fascinating. you can have 1 sextillion dollars and it still only buys a MC Donald's large soda.
What a well timed video, many people will understand the soul crushing power of runaway inflation soon.
Buckle up guys, we're in for a wild one.
Buy food first then gold and silver
What are we in? The 20th century? Just send all your money to offshore bank accounts and convert it to USD
Depends where you live. In the US it's a weird situation. Prices have inflated because production was forced to shut down, but the value of the dollar is actually up very high relative to most other currencies because so many nations are opting to use dollars over their own currencies for the sake of the dollar's legendary stability. Basically, even though many, many US dollars have been printed in the last four years, more have been exported to other countries than kept in America, so the US itself is actually experiencing *deflation* which is normally good, but the production cuts mean everyone still has to outbid each other for limited amounts of goods
@@Graymenn you left out ammo
@@barneyboyle6933 i just assumed that people have that already under normal circumstances... am i wrong?
Half my friends and family have 100x more ammo than food.... and no silver or gold at all.
I get the feeling Qxir was becoming hungry towards the end of recording this video. :P
Thanks for including the bloopers!
Everytime he says "pengo" I think of that claymation penguin
I enjoy your drawings so much. Always a good day when a new Tale From The Bottle pops up.
0:54 Interesting to hear that Austria Hungary used to use Corona bottles as currency
Love your channel. Keep up the great videos
the only other time I ever hear numbers as high as Sextillion thrown around is when Death Battle uses cartoon logic to realistic extremes for measuring explosions and stuff XD
Numbers like that can show up in astronomy. In physics, if you do things like count the atoms in things big enough to see, the numbers get bigger, but those mostly stay in scientific notation. Some idle games like Cookie Clicker use absurd numbers like that due to exponential growth.
I really enjoyed that video and by that narration that you gave us I think you had fun making it. Have a fantastic day
I was literally looking up these banknotes YESTERDAY 😂
Sextollion banknote: clearly shows a billion bank note
I feel that this is a well timed video for us Americans as inflation is getting worse and worse.😂🤠 Thanks for the great video Qxir! Love the Bloopers at the end!🤣
Inflation over her too!
@@Qxir well, cheers to our overpriced beers
🦅🇺🇸🍻🇮🇪💚
@@thepsychedeliccartographer5765 I am intrigued by your user name
@@AdamFoster cartography is just essentially mapping and understanding the geography, so psychedelic cartography is what I call blasting myself into another dimension through psilocybin, DMT, and other psychedelics to better understand the deep intricate ways in which my mind , and by extension other peoples minds to a degree work. Also I do this to understand what is happening on a biological level that makes users of something like DMT have extremely similar experiences,I feel that this understanding of self is what makes users of psychedelics feel like they are "one with the universe or with other humans" or some people even feel this with something as seemingly mundane as water itself. But thank you for the interest in the name, to be honest I got the name from a throw away segment in a conversation by a man named Duncan Trussell. If you want an actual understanding of psychedelics without doing them listen to this man, he seems a bit unhinged but he is a very smart man.
@@thepsychedeliccartographer5765 I suspected it might have been something like that. It really is a fascinating set of chemicals.
Good lord the amount of bots recommending "financial advisors" lol
I like how this is loosely connected to my favourite story from this channel (the one about the bomb the FBI couldn't defuse).
WHAT HOW
@@GazpaNova Dude was a WW2 pilot from Hungary who fled his country because of the problems they had after the war.
Hungarians are chaotic neutral
Pingu got the correct value of the Pengo: Naught-naught
Cool to see Hungary represented in a Qxir video! Cheers!
Hungary was also represented in a video he made about a bomb the FBI couldn't defuse.
@@zephyrna6249 Oh yeah, thank you for reminding me! :D
5:50 I was waiting for a Pingu reference so thank you. Was not disappointed.
How did Booth save Lincoln's life???
5:03 as Shrek said, Like that's ever gonna happen.
Seriously this aged so so poorly.
This is cool and all, but how did Booth save Lincoln's life doe
Did I do that math right... by mid-1946, _all_ of the currency in circulation was worth a bit over 10 cents?!
😂😂😂As a Zimbabwean I'm happy to see ours was not the worst case 🙌🏾
These are the videos that I love! Your storytelling, your animations and worth a decillion more, your humor.
Pengu got hammered on korona
🍺🐧
American soldier: "Hey, can you give me change for a dollar?"
WW2 Hungarian: * dumps out a semi truck of the highest denomination banknotes in history *
American soldier: * muffled from under literal mountain of paper * "Thanks!"
Hungarian: " no problem " * cries in inflation *
Amazing video, keep up the great work!
Imagine being a billionaire that time and you can't still afford a candy.
I thought the worst inflation was sonic?
Yeah more people need to do their research by Googling "Sonic Inflation"
Bro, you're probably the only RUclipsr who deserves one septilliion subscribers. I'm proud to be one of them. Aha ah
kinda glad i visited hungary when it still had the forint, the coins are pretty neat.
We still have the forint and dont plan on replacing it either.
Hungary will not get the Euro, their president is a wanna-be dictator
@@zephyrna6249 Soon we won't be needing the coins though
I love that you had the Pingu clip in your last 3 seconds, that's all I could really think of during the whole intro of the video.....Pingu, Broke You......
Imagine the pengo rises upto 5 pengos for dollar and people with billions of pengos go insanely rich
i think the conversion for the old bills into the new currency is still honoured by the government and fixed at the value in the video
Hope this will at least buy one beer if you use it right away
I'll find a way ;)
Thanks!
@@Qxir e
At some point it'd be more convenient to just pay with a blank sheet of paper than a printed banknote
Makes the "Starving Billionaire" not so much of an oxymoron at that point.
Wait... where's the sextillion jokes?
Come on, RUclips comment section, I know you're worse than this purity.
I found out about this currency just yesterday while browsing Wikipedia about hyperinflation, I was extremely astonished by it. The Georgian currency ''coupon'' reached a 1,000,000 banknote in 1992-1994 economic crisis during the three-front civil war, and I thought that was as large as one could get, but finding out about Zimbabwean dollar and later the Hungarian Pengo really opened my eyes towards the worst that the hyperinflationverse has to offer.
Imagine being a sextillionaire and still being broke
Worth it to watch the end for that pingu p.s
Rest in peace pingu voice actor
I have one of the 10 quintillion Pengo notes, its fun to show off to people, though I also then have to go into an explanation of long vs short form numbers. Fun fact, basically nobody stateside knows about long form numbers (millard, billard, etc) so explaining why a billion is a trillion is rather difficult.
Just say that a metric billion is a US trillion.
It's not correct, but it's probably the best way to explain it.
During the most of this video I was thinking of a claymation from my childhood called pingu 5:50 is why I love this channel.
Interesting that they had a currency named pengo as the Danish word for money is penge. I suspect there is a relation between the two, even though Danish and Hungarian are mostly unrelated, and that it has to do with the sound of falling silver coins ;-)
Makes sense even in an unrelated language, if you just try to sound out natural phenomena you will arrive at similar words. Just like how you describe a passing car with some variety of "whooosh" and anyone will understand.
Well, they had a currency named pengø, if you want to write it the Danish way.
fun fact: the word "penge" also exists in hungarian, but it actually means "blade".
Hey man, just a quick note to say ive been watching all your content since finding your channel a year ago and want to thank you fort the work you do. its much appreciated.