Suchergebnisse
Suchergebnisse:
9. Nov. 2023 · The Weimar Republic, born at the end of World War One in November 1918, inherited debt and political instability. Germany borrowed heavily to finance the war planning, like the other combatants, to make the losers pay. In 1915, Treasury Secretary Karl Helfferich told the Reichstag: “It is the [Allies] who deserve to bear this lead […]
Traumatische Inflation. Zu Beginn der 1920er-Jahre, während der Weimarer Republik, hatte Deutschland deshalb bei den Siegermächten riesige Schulden – und zusätzlich auch noch bei der eigenen Bevölkerung. Denn die hatte während der Kriegsjahre dem Staat Millionen von Mark für die Kriegskosten vorgestreckt, in sogenannten Kriegsanleihen.
16. Nov. 2023 · In my two previous posts (here and here) I described how hyperinflation hit the Weimar Republic after the end of World War 1. On November 15, 1923, the German Papiermark hit an exchange rate of 2.5 trillion to $1. Two weeks earlier, $1 had bought 133 billion marks; at the start of the year 17,972 […]
In 1914, the exchange rate of the German mark to the American dollar was about 4.2 to one. Nine years later, it was 4.2 trillion to one. The out-of-control inflation began somewhat mildly during ...
The French army went aggressively after income of any sort, with confiscations and downright theft. The inflation broke out in full. The exchange rate of the dollar rose in the first six months of 1923 to 74 750 mark. In August it was a million, in October a billion, in November it was over a trillion per dollar.
Weimar Republic - Stabilization, Democracy, Hyperinflation: Having averted the threat of civil war, Stresemann turned to face the problem of the mark. A new currency, the Rentenmark, was introduced on November 20, 1923, in strictly limited quantities. It was backed by a mortgage on the entire industrial and agricultural resources of the country. The process of stabilization was painful but was ...
The years after the signing of the Versailles Peace Treaty on 28 June and the adoption of the Weimar Constitution on 11 August 1919 were dominated by inflation, which culminated in hyperinflation in 1923 and resulted in a currency reform. The republic mastered severe political crises such as the Kapp putsch in 1920, upheavals, and hyperinflation.
