Kipper- und Wipperzeit

キッパー・ウィッパー ／ Kipper und Wipper　—　Phenomena

A monetary crisis where states, pressed for funds during the Thirty Years' War, rushed en masse into debasement.

Quarter Reichstaler1624

A monetary crisis (from c. 1618) where various states, pressed for funds during the Thirty Years' War, rushed en masse into debasement. The name means "clippers and see-sawers," referring to the practice of sorting good coins with a balance, clipping them, and putting the debased coins into circulation.

⚠ One state's debasement becomes an export to its neighbors. This was a rare collective mania in monetary history, where debasement took the form of an alliance.