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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 ...
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.
The Weimar Republic, [d] officially known as the German Reich, [e] was a historical period of Germany from 9 November 1918 to 23 March 1933, during which it was a constitutional republic for the first time in history; hence it is also referred to, and unofficially proclaimed itself, as the German Republic.
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 ...
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] It was subdivided into 100 Rentenpfennig and was replaced in 1924 by the Reichsmark.
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 It was a major reason why Hitler never formally repealed the Weimar Constitution, though it had effectively been rendered a dead letter with the passage of the Enabling Act.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]
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.