German hyperinflation 1923?

Question

How was the German hyperinflation problem eradicated after WW1? Who was involved?

Answer 1

Germany's hyperinflation wasn't eradicated after WWI, it was caused by it (and in large part by the Treaty of Paris) and is a vital element in understanding the rise of Hitler to power and the start of WWII.

Answer 2

Germany was saddled with HUGE debts to the foreign powers and this caused the money to become worth very little. The government of the time after world war I started printing more and more money to pay its debts. The money was soon almost worthless. The Papier (paper in English) money was printed in factories all over to try and keep up with the hyper inflation.
Stopping the devaluation of the money
A newly appointed government managed to turn around the economy in end of 1923 to early 1924. A new currency was introduced - the Rentenmark. The rate against the Dollar was fixed at 4.20 Rentenmark for 1 Dollar. The new currency was backed by industrial and agricultural property, because there were no sufficient gold reserves anymore. At the same time the fiscal policy was changed to reduce government spending. The period of Inflation was over.

During hyper-inflation my friend's Dad took an animal to sell at market, and the money he got wasn't enough for the train ride home when he got back to the station.

Answer 3

the Hyperinflationary period was caused by the harsh reperations demanded of Germany following WW1.

Many people say that the inflationary period ended with the discontinuation of the Duetsch Mark and the introduction of the Rente Mark - however the inflation rate of Germany only eased SLIGHTLY. Essentially the German inflation rate and subsiquent economic issues that resulted from it were not resolved until 1991 when the country was finally unified after 2 world wars and 50 year sof duel occupation.

Answer 4

Inflation in Germany was so bad that many workers were paid twice daily, at noon and at quitting time. Workers would go out at lunch and buy what they could because inflation would have reduced their buy power by the evening. Some people carried their marks to stores in wheel barrows as the mark bought so little with its increasingly lower value.

Answer 5

The politician called Gustav Streasemann was involved in getting rid of hyperinflation.

He did this by getting rid of the old currency and replacing it with an new currency,the "Rentenmark".

America also helped by lending loans to Germany

Answer 6

destroyed saving -- spend it at the same time as you obtain it became the creed destroyed self belief interior the authorities finished wrecking the monetary equipment -- how do you do employer without money? all of which led to Hitler -- who promised to revive prosperity, regulation & order, and German pride