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Hyperinflation affected the German Papiermark, the currency of the Weimar Republic, between 1921 and 1923, primarily in 1923. The German currency had seen significant inflation during the First World War due to the way in which the German government funded its war effort through borrowing, with debts of 156 billion marks by 1918.
Hyperinflation was disastrous for Greece’s workers and peasants: real wages fell by over fifty percent between the invasion by Mussolini’s Italy and the peak of inflation. [18] The depletion of gold as stocks of goods fell with the departure of the Nazis further exacerbated shortages and forced businesses back to barter. [25]
The hyperinflation under the Chinese Nationalists from 1939 to 1945 is a classic example of a government printing money to pay civil war costs. By the end, currency was flown in over the Himalayas, and then old currency was flown out to be destroyed. Hyperinflation is a complex phenomenon and one explanation may not be applicable to all cases.
The most infamous might be that of Weimar Germany, whose hyperinflationary episode is often blamed for the rise of the National Socialists. The This Is What Hyperinflation Really Looks Like
The Great Coalition (13 August 1923 – 30 November 1923) was a grand coalition during the Weimar Republic that was made up of the four main pro-democratic parties in the Reichstag: Gustav Stresemann, Reich chancellor during the Great Coalition, in 1926. The Social Democratic Party (SPD), a moderate socialist party
Hyperinflation in the Weimar Republic reached its peak in November 1923. [24] Since Germany was unable to pay the idled workers in the occupied Ruhr any other way, more and more money was printed, which finally led to hyperinflation. The Stresemann government introduced a new currency, the Rentenmark, to end hyperinflation. Although Stresemann ...
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Federal elections were held in Germany 4 May 1924 to elect the second Reichstag of the Weimar Republic. [1]The elections took place in the wake of several national crises the previous year: hyperinflation, the occupation of the Ruhr, conflict between the federal and state governments, as well as the Beer Hall Putsch and German October.