Hyperinflation (jan 1, 1923 – jan 1, 1924)

Description:

In 1923, the German government printed much more money in order to pay reparations it couldn't afford. The mark became worth next to nothing.

The impact of hyperinflation was:
- normal life was impossible because prices were so high
- goods couldn't be imported because £1 was worth about 20 billion marks
- savings became worthless
- German people resented people who had loans, hoarders and tourists because they benefitted from their suffering

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