Picked up a book on global history this weekend for a gift. The title of the book is History the Definitive Visual Guide, From the Dawn of Civilization To the Present Day. While thumbing through it I happened on the page about the Great Depression. We all know about the subject so I won't bore you with re-gurgitation. I did come across a paragraph I was un-aware of.
Hyperinflation In Germany
As the Germans thought they would win the war and intended to force the losers to pay for their costs, they chose not to finance it through taxation. Instead, the government ordered the Reichbank, or central bank, to print more and more money to cover its ever-increasing war expenses. The reichsbank continued to print money until 1923, when the purchasing power of the money in circulation plummeted as the price of everything in Germany inflated rapidly (hyperinflation). At the peak of hyperinflation the exchange rate was one trillion Marks to the US Dollar. Paper money was worth so little that people burned it to heat their houses.
In 1918 in Germany a loaf of bread cost 0.63 Marks. During the hyperinflation crisis the price rose to 201,000,000,000 Marks in November 1923.
from this example you could argue, those countries will the least amount of fiscal need, should have the strongest currencies.
swiss franc is doing quite well..these days.