HyperinflationIn economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies. When measured in stable foreign currencies, prices typically remain stable. Unlike low inflation, where the process of rising prices is protracted and not generally noticeable except by studying past market prices, hyperinflation sees a rapid and continuing increase in nominal prices, the nominal cost of goods, and in the supply of currency.
The HolocaustThe Holocaust was the genocide of European Jews during World War II. Between 1941 and 1945, Nazi Germany and its collaborators systematically murdered some six million Jews across German-occupied Europe, around two-thirds of Europe's Jewish population. The murders were carried out primarily through mass shootings and poison gas in extermination camps, chiefly Auschwitz-Birkenau, Treblinka, Belzec, Sobibor, and Chełmno in occupied Poland. The Nazis developed their ideology based on racism and pursuit of "living space" and seized power in early 1933.
WirtschaftswunderThe Wirtschaftswunder (ˈvɪʁt.ʃaftsˌvʊndɐ, "economic miracle"), also known as the Miracle on the Rhine, was the rapid reconstruction and development of the economies of West Germany and Austria after World War II (adopting an ordoliberalism-based social market economy). The expression referring to this phenomenon was first used by The Times in 1950.
Soviet occupation zone of GermanyThe Soviet occupation zone (Sowjetische Besatzungszone (SBZ) or Ostzone, "East Zone"; Советская оккупационная зона Германии, Sovetskaya okkupatsionnaya zona Germanii, "Soviet occupation zone of Germany") was an area of Germany that was occupied by the Soviet Union as a communist area, established as a result of the Potsdam Agreement on 1 August 1945. On 7 October 1949 the German Democratic Republic (GDR), commonly referred to in English as East Germany, was established in the Soviet occupation zone.
German reunificationGerman reunification (Deutsche Wiedervereinigung) was the process of re-establishing Germany as a single full sovereign state, which took place between 9 November 1989 and 15 March 1991. The day of 3 October 1990 when the "Unification Treaty" entered into force dissolving the German Democratic Republic (GDR; Deutsche Demokratische Republik, DDR, or East Germany) and integrating its recently re-established constituent federated states into the Federal Republic of Germany (FRG; Bundesrepublik Deutschland, BRD, or West Germany) to form present-day Germany, has been chosen as the customary German Unity Day (Tag der deutschen Einheit) and has thereafter been celebrated each year as a national holiday in Germany since 1991.
BizoneThe Bizone (ˈbiːˌt͡soːnə) or Bizonia was the combination of the American and the British occupation zones on 1 January 1947 during the occupation of Germany after World War II. With the addition of the French occupation zone on 1 August 1948 the entity became the Trizone (ˈtʁiːˌt͡soːnə; sometimes jokingly called Trizonesia (Trizonesien, tʁit͡soˈneːzi̯ən)). Later, on 23 May 1949, the Trizone became the Federal Republic of Germany, commonly known as West Germany.
German mark (1871)The German mark (Goldmark ˈɡɔltmaʁk; sign: M︁) was the currency of the German Empire, which spanned from 1871 to 1918. The mark was paired with the minor unit of the pfennig (₰); 100 pfennigs were equivalent to 1 mark. The mark was on the gold standard from 1871 to 1914, but like most nations during World War I, the German Empire removed the gold backing in August 1914, and gold coins ceased to circulate.
Saar ProtectorateThe Saar Protectorate (Saarprotektorat ˈzaːɐ̯pʁotɛktoˌʁaːt; Protectorat de la Sarre), officially Saarland (Sarre), was a French protectorate and a disputed territory separated from Germany. On joining the Federal Republic of Germany (FRG/West Germany) in 1957, it became the smallest "federal state" (Bundesland), the Saarland, not counting the "city states" (Stadtstaaten) of Berlin, Hamburg, and Bremen. It is named after the Saar River.
PapiermarkThe Papiermark (paˈpiːɐ̯ˌmaʁk; 'paper mark', officially just Mark, sign: M︁) was the German currency from 4 August 1914 when the link between the Goldmark and gold was abandoned, due to the outbreak of World War I. In particular, the Papiermark was the currency issued during the hyperinflation in Germany of 1922 and 1923. From 1914, the value of the mark fell. The rate of inflation rose following the end of World War I and reached its highest point in October 1923.
ReichsbankThe Reichsbank (ˈʁaɪçsˌbank; Bank of the Reich) was the central bank of the German Reich from its establishment in 1876 until liquidation in 1945. The Reichsbank was founded on 1 January 1876, shortly after the establishment of the German Empire in 1871. It was the central bank of Prussia, under the close control of the Reich government. Its first president was Hermann von Dechend. Before unification in 1871, Germany had 31 central banks – the Notenbanken ("note banks"). Each of the independent states issued their own money.
