German hyperinflation of the early 1920s

E1004456

The German hyperinflation of the early 1920s was a catastrophic monetary crisis in the Weimar Republic during which the value of the mark collapsed, wiping out savings and destabilizing the economy and society.

All labels observed (6)

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Statements (48)

Predicate Object
instanceOf economic crisis
historical event
hyperinflation
alsoKnownAs German inflation of 1923
Weimar hyperinflation
cause World War I reparations burden
collapse of confidence in the mark
large wartime and postwar budget deficits
loss of productive territory after World War I
massive money printing by the Reichsbank
occupation of the Ruhr by French and Belgian troops
passive resistance and strike policy in the Ruhr
country Germany
Weimar Republic
currencyAffected German Papiermark
linked to: Papiermark

Reichsmark predecessor currencies
effect collapse of the value of the German mark
destruction of middle-class savings
disruption of normal economic activity
erosion of long-term contracts and pensions
impoverishment of fixed-income groups
increased political radicalization
loss of trust in democratic institutions of the Weimar Republic
rise in support for extremist parties
severe social unrest in Germany
use of foreign currencies and commodities as stores of value
widespread barter and non-monetary exchange
windfall gains for debtors
endedBy currency stabilization measures of 1923–1924
fiscal reforms under Gustav Stresemann’s government
introduction of the Rentenmark
endTime 1924
historicalContext interwar period
post–World War I Europe
keyFigure Gustav Stresemann
Hjalmar Schacht
Rudolf Havenstein
location Germany
Ruhr region
linked to: Ruhr area
notableConsequence long-lasting German fear of inflation
strengthening of narratives of national humiliation
peakYear 1923
relatedTo Dawes Plan
Treaty of Versailles
Weimar Republic
occupation of the Ruhr
startTime 1921
timePeriod early 1920s

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Referenced by (6)

Full triples — surface form annotated when it differs from this entity's canonical label.

Rudolf Havenstein involvedIn German hyperinflation of the early 1920s
German federal election, December 1924 relatedEvent German hyperinflation of 1921–1923
linked to: German hyperinflation of the early 1920s
Papiermark usedDuring German hyperinflation
subject linked to: Mark
linked to: German hyperinflation of the early 1920s
Deutsche Rentenbank foundedDuring Weimar hyperinflation crisis
linked to: German hyperinflation of the early 1920s
German hyperinflation of the early 1920s alsoKnownAs Weimar hyperinflation
linked to: German hyperinflation of the early 1920s
German hyperinflation of the early 1920s alsoKnownAs German inflation of 1923
linked to: German hyperinflation of the early 1920s