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The hyperinflation drew significant interest, as many of the dramatic and unusual economic behaviors now associated with hyperinflation were first documented systematically: exponential increases in prices and interest rates, redenomination of the currency, consumer flight from cash to hard assets and the rapid expansion of industries that ...
Hitler called for Germany to have the world's "first army" in terms of fighting power within the next four years and that "the extent of the military development of our resources cannot be too large, nor its pace too swift" [italics in the original] and the role of the economy was simply to support "Germany's self-assertion and the extension of ...
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 ...
History has many examples of ruinous hyperinflation. The most infamous might be that of Weimar Germany, whose hyperinflationary episode is often blamed for the rise of the National Socialists. The.
Detlev Peukert argued the financial problems that arose in the early 1920s, were a result of post-war loans and the way Germany funded her war effort, and not the result of reparations. [116] During the First World War, Germany did not raise taxes or create new ones to pay for war-time expenses.
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.
Thousands of his decrees were based explicitly on the Reichstag Fire Decree, and hence on Article 48, allowing Hitler to rule under what amounted to martial law. It was a major reason why Hitler never formally repealed the Weimar Constitution, though it had effectively been rendered a dead letter with the passage of the Enabling Act. [17]
8–9 November: The Beer Hall Putsch, an attempt led by Adolf Hitler and Erich Ludendorff to overthrow the Weimar Republic, fails in Munich. [61] 15 November: Germany's period of hyperinflation ends with the introduction of the Rentenmark. [62] 23 November: The Stresemann government falls on a vote of no confidence.