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Rentenmark

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Rentenmark

Currency introduced in Germany at the end of 1923 by the president of the Reichsbank, Hjalmar Schacht (1877–1970), to replace old Reichsmarks which had been rendered worthless by inflation.

As Germany had no appreciable gold reserves, the currency was guaranteed against the assets of the country, namely land and railways. Schacht's success in stabilizing the currency was largely due to the population's willingness to trust the new Rentenmark.
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These bankers were entrepreneurs, short-selling the crisis they created during the window of opportunity before the government converted the Papiermark to Rentenmarks.
Vampire banker$ (or the nuts and bolts of the scam): do we define ... by Ibarra, Morgan / The Humanist
Gono's move follow the example of the president of the Reichsbank in the 1920s, Hjalmar Schacht, who helped end Weimar Germany's financial crisis by striking nine zeros from the currency and turning 10bn old marks into one new rentenmark.
Zimbabwe brings in new currency to tackle inflation crisis by guardian.co.uk / guardian.co.uk
Germany – the most frequently cited example of hyperinflation – finally got to grips with the problem when it produced a currency – the Rentenmark – backed with American gold.
Zimbabwe's zero hour has been tried before by guardian.co.uk / guardian.co.uk
 
 
 
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