Hyperinflation Flashcards
name the order in which hyperinflation was caused
Germany missed the reparation payments, the French invaded the Ruhr, german workers went on strike, the government printed paper money, there was hyperinflation
hyperinflation definition
was inflation at a very high rate concerning money that collapsed Germany’s currency
causes of hyperinflation
German government didn’t pay, too much money chasing too little goods, huge amount expected in reparations
how did hyperinflation affect the government
not well, so much war debt, countries pities them, being blamed for everything, short of money, losing followers to the nazi party
how did hyperinflation affect foreigners
well, good exchange rate, large marks for a small amount of money
how did hyperinflation affect farm owners
bad, thought money was now worthless so wanted higher value goods in return from their crops
how did hyperinflation affect debtors
well, paid off all debt needed
how did hyperinflation affect pensioners
bad, people who fought for their country had a small pension and now can’t afford necessities
how did hyperinflation affect working-class people
not much/well, wages paid by the hour but were increased by the hour so not much changed
how did hyperinflation affect business owners
bad, nobody could afford to buy their stuff and they then couldn’t afford rent
how did hyperinflation affect landowners
good, sell cattle individually for the price they bought as one herd, has something valuable they could actually sell
how did hyperinflation affect unemployed people
bad/not much, trading virtually stopped so difficult to get another job, benefits from government rose in the same ratio as before
