Search results
Results from the WOW.Com Content Network
Germany, 1923: banknotes had lost so much value that they were used as wallpaper. The hyperinflation episode in the Weimar Republic in the early 1920s was not the first or even the most severe instance of inflation in history. [37] [38] However, it has been the subject of the most scholarly economic analysis and debate.
Germany's gross national product (GNP) and GNP deflator, year on year change in percentages, from 1926 to 1939 [19] Development of GDP per capita, from 1930 to 1950. The Nazis came to power in the midst of the Great Depression. The unemployment rate at that point in time was close to 30%. [20]
The cabinet had to deal with several crucial issues that threatened Germany's integrity. The most pressing was the occupation of the Ruhr, which was closely connected to the issue of war reparations and a major cause of the economic collapse and hyperinflation brought on by the policy of passive resistance against the French and Belgian ...
Dawes, who was the U.S. vice president at the time, received the Nobel Peace Prize of 1925 for "his crucial role in bringing about the Dawes Plan", specifically for the way it reduced the state of tension between France and Germany resulting from Germany's missed reparations payments and France's occupation of the Ruhr.
11 January – French and Belgian troops enter the Ruhr in the Occupation of the Ruhr because of Germany’s refusal to pay war reparations, causing strikes and a severe economic crisis. [1] 20 April – Julius Streicher's antisemitic newspaper Der Stürmer begins publication. [2] 13 August – The First Stresemann cabinet was sworn in.
The Rentenmark (German: [ˈʁɛntn̩ˌmaʁk] ⓘ; RM) was a currency issued on 15 November 1923 to stop the hyperinflation of 1922 and 1923 in Weimar Germany, after the previously used Papiermark had become almost worthless. [1]
FRANKFURT, Germany (AP) — German Chancellor Olaf Scholz on Friday promised quick action to fix a budget crisis after a court decision blew a large hole in the almost-finished plan for next year ...
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.