Germany Hyperinflation Flashcards
Who benefited from hyperinflation?
Anyone in debt
People with mortgages
People exchanging foreign currency
Rich businessmen who bought smaller businesses
Gov- they paid off a 150 million mark debt
What was a symbolic image of the worthlessness of money?
People burning money as fuel
Who suffered from hyperinflation?
Anyone with savings
Small businesses
People living on fixed incomes e.g pensions.
What does moratorium mean?
Delaying something with everyone’s permission
What happened when Germany asked for a 2nd moratorium?
France convinced commission to deny them. Tensions grew.
Why did French invade Ruhr in 1923?
Commission declared Germany failed to deliver shipment of timber to France. They invaded Ruhr because it was richest area
What did the French do when Germany didn’t pay them?
Took their industrial output as payment
How did Germany respond to invasion of Ruhr?
Passive resistance. Workers went on strike, with wages paid for by gov
What did the strike cause?
Violent clashes between German strikers and French troops
What did some nationalists do to stop French obtaining goods and raw materials?
Sabotaged them
What were the 4 key results of French occupation of Ruhr?
MUHR
What is MUHR?
Munic putsch
Unity of German people
Separists
Hyperinflation
What are separatists?
People who want their area to become independent
Who stopped hyperinflation?
Gustav Stresemann
How was hyperinflation stopped?
Strike in Ruhr was called off Some state govs removed Introduced a temporary currency-Rentenmark. Money being printed was controlled Number of gov workers reduced
