Weimar Republic - HISTORYCritics of the Federal Reserve's extraordinary attempts to stimulate the economy since the financial crisis and recession — like the program of large-scale bond purchases known as quantitative easing — have warned that the U. Ever since earlier this year, when the Fed hinted that it could move to begin rolling back quantitative easing soon, inflation premiums have collapsed as real interest rates have soared. Gold, for example — a metal often viewed as an inflation hedge — crashed earlier this year. Germany hoped that it would quickly win the war and reap bounty from the nations it conquered, which — to the government — justified the use of the printing press to fund it:. It may have been true — there is no reason to doubt it — that a short, sharp war and a speedy victory in had been both hoped for and expected. Together with the prospect of eventual war indemnities extorted from the Entente, this would possibly have justified taking temporary liberties, even outrageous ones, with the known laws of finance The German government appealed to patriotism to fund the conflict, using slogans like "I gave gold for iron," and "Invest in War Loan.
WEIMAR: The Truth About History's Most Infamous Hyperinflation Horror Story
Marion F. Deshmukh, Bernd Widdig. Culture and Inflation in Weimar Germany. Weimar and Now: German Cultural Criticism, number Most users should sign in with their email address. If you originally registered with a username please use that to sign in.
For many Germans the hyperinflation of to was one of their most decisive experiences of the twentieth century. This book investigates the effects of that inflation on German culture during the Weimar Republic.
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About the Book
For many Germans the hyperinflation of to was one of the most decisive experiences of the twentieth century. In his original and authoritative study, Bernd Widdig investigates the effects of that inflation on German culture during the Weimar Republic. He argues that inflation, with its dynamics of massification, devaluation, and the rapid circulation of money, is an integral part of modern culture and intensifies and condenses the experience of modernity in a traumatic way. Flirting with Disaster: The German Inflation, 3. Uncanny Encounters: Dr. Mabuse, the Gambler 6.
From its uncertain beginnings to a brief season of success and then a devastating depression, the Weimar Republic experienced enough chaos to position Germany for the rise of Adolf Hitler and the Nazi Party. After a series of mutinies by German sailors and soldiers, Kaiser Wilhelm II lost the support of his military and the German people, and he was forced to abdicate on November 9, In December , elections were held for a National Assembly tasked with creating a new parliamentary constitution. On June 28, the Treaty of Versailles was signed, which ordered Germany to reduce its military, take responsibility for the World War I, relinquish some of its territory and pay exorbitant reparations to the Allies. It also prevented Germany from joining the League of Nations at that time. The law faced venomous opposition from the military and the radical left. The Constitution contained articles and covered everything from the structure of the German state Reich and the rights of the German people to religious freedom and how laws should be enacted.