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The hyperinflation in 1923 plunged Germany into even deeper financial turmoil as the DM (deutschmark) became even more worthless so the money that the people had was vastly reduced in value. I think that in 1923, Germany refused to pay the reparations but I don't know what happened after that...
After the treaty of Versailles was signed in 1919, Germany were forced to pay reperations which were over 6.6 million. At this time no one had ever heard or imagined such amounts of money.
In 1923 Germany were unable to pay the yearly payments, this lead to the government deciding to print more money to pay the high reperations. As a result of this money became worthless, wages were payed twice daily before the rates went up, people required wheelbarrows to carry their wages, in 1923 it would cost over a million Marks to buy a loaf of bread or even an egg.
January 1923 250 marks
July 1923 3465 marks
September 1923 1,512,000 marks
November 1923 201,000,000,000 marks
These figures show the Rising cost of a loaf of bread in 1923
Hope this helps x
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Causes of inflation of post World War 1 Germany?
The basic cause of hyperinflation was the govt's(Government's) decision to print money. It was the government who gained from this process. eliminating the vast mountain of debt that the First World War had left it. The introduction of a new currency on the November 15, 1923 was eventually to bring stability but it did not restore prosperity to those who had been ruined.
What does lung hyperinflation stimulate?
Lung hyperinflation stimulates pulmonary stretch receptors. A person who experience lung hyperinflation can end up having COPD or chronic obstructive pulmonary disease.
Did Henry kissinger have a German accent?
Yes, he was born in Fürth, Bavaria, Germany in 1923.
How did world war l contribute to a German economic crisis?
Germany printed more paper money to pay wartime reparations, which led to hyperinflation.
The invasion of what country caused Britain and France to declare war on Germany?
The 1939 invasion of Poland caused Britain to declare war on Germany, which started WWII.
What led to hyperinflation in Germany in 1923?
The immediate trigger was the French (and Belgian) occupation of the Ruhr in January 1923, followed by the German campaign of passive resistance.
What kind of currency did people in Germany in the 1900's use?
Germany used the Deutchmark until 1923, when Hyperinflation caused by the occupation of the Ruhr (an industrial region of Germany) by french and Flemmish troops made the currency worthless. A new temporary currency, the Rentenmarkwas introduce in october 1923, then a pemanent currency, the Reichmark was brought in in 1924.
What happened in Germany due to the Depression?
Hyperinflation. The value of ten Goldmarks in 1920 was equal to that of one trillion (one thousand billion) goldmarks in 1923.
Was hyperinflation caused by the french invasion of the ruhr in 1923?
Partially. However, it was caused by other significant factors such as the treaty of Versailles and the government not being able to afford to pay the repetitions. Which in turn meant they printed more marks, this reducing the value of the money itself. Thus, beginning hyperinflation.
Totalitarianism took root in Germany following World War 1 as a result of?
Answer this question… economic problems caused by hyperinflation.
Hyperinflation largely destroyed the economy of what country in 1923-24?
The immediate trigger was the occupation of the Ruhr in January 1923 by the French and Belgians. Most of the background problems arose from Germany's failure to finance World War 1 properly and from reparations.
What economic problem plagued Germany between 1918 through 1923?
Since Germany did not fare well at the end of WW1, they had to pay 132 billion marks to the winners. This was to keep the nation from growing and was followed by hyperinflation. Under these circumstances, Germany was an economic disaster.
How did paying reparations affect Germany after World War 1?
Basically America Stepped in with the Dawes Plan 1923 and Young plan 1929, and this with massive loans and a new loan helped pay it off, but before that they couldn't pay it so the French Invaded the Ruhr a Industrial area and This caused hyperinflation.
What were the immediate economic issues in germany in the early 1920's?
In the early 1920s, the German economy was in shambles. The poor economic situation was caused in part by hyperinflation.
Why did hyper inflation occur in Germany in 1923?
Germany's hyper-inflaton was caused by Germany printing extra money that was worthless :) ^Sounds like the Unites States.
What caused the economic and political problems after world war 1?
America had the wall street crash and they wanted all the reparations to be paid back therefore Germany went into hyperinflation.
What disaster did the depression cause for Germans?
Mass unemployment, which destabilized the political system.Contrary to a widespread myth, it wasn't hyperinflation. The period of hyperinflation in Germany was 1919-1923 and the currency was was stabilised in November 1923. In the early 1930s the key economic problems were high unemployment and fallingprices. (These led people to postpone non-essential purchases in the expectation that prices would fall even further, and this in turn worsened unemployment). Anyone who finds this hard to believe need only look at German stamps of banknotes for 1923, for example on Ebay ...Though the hyperinflation of the early 1920s didn't bring the Nazis to power, it is often said that it severely weakened the support of the middle classes for the Weimar Republic.
