German hyperinflation of the early 1920s

E1004456

economic crisis historical event hyperinflation

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.

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All labels observed (2)

Label	Occurrences
German hyperinflation of 1921–1923	1
German hyperinflation of the early 1920s canonical	1

Statements (48)

Predicate	Object
instanceOf	economic crisis ⓘ historical event ⓘ hyperinflation ⓘ
alsoKnownAs	German inflation of 1923 NERFINISHED ⓘ Weimar hyperinflation NERFINISHED ⓘ
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 NERFINISHED ⓘ Weimar Republic NERFINISHED ⓘ
currencyAffected	German Papiermark NERFINISHED ⓘ 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 NERFINISHED ⓘ Hjalmar Schacht NERFINISHED ⓘ Rudolf Havenstein NERFINISHED ⓘ
location	Germany ⓘ Ruhr region NERFINISHED ⓘ
notableConsequence	long-lasting German fear of inflation ⓘ strengthening of narratives of national humiliation ⓘ
peakYear	1923 ⓘ
relatedTo	Dawes Plan NERFINISHED ⓘ Treaty of Versailles NERFINISHED ⓘ Weimar Republic NERFINISHED ⓘ occupation of the Ruhr ⓘ
startTime	1921 ⓘ
timePeriod	early 1920s ⓘ

Referenced by (2)

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 the early 1920s ⓘ

this entity surface form: German hyperinflation of 1921–1923