In the summer of 1922 the rate of exchange in Germany sank to 400 marks to the dollar. It fell to 7,000 to the dollar at the beginning of January 1923, the truly terrible year. One hundred sixty thousand in July. One million in August. And 4.2 trillion marks to the dollar on November 23, 1923, when adjustment finally began. Banks advertised for bookkeepers good with zeros and paid out cash withdrawals by weight. Antique stores filled to the ceiling with the pawned treasures of the bankrupt middle class. A theater seat sold for an egg. Only those with hard currency—mostly foreigners—thrived at
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