Jimmy Erdmier

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Miners in the Ruhr would strike in an attempt to make the occupation as costly as possible for the French government. However, this resistance would need to be subsidized by the Reich, as both the miners and their employers would have to be paid. It also meant that about half of the country’s coal supply would need to be imported, adding additional strain on the balance of payments.104 As a result, government spending increased, the balance of payments deteriorated, liquidity shortages pushed the Reichsbank to print even more, and inflation, which was already at astronomical levels, ...more
A Template for Understanding Big Debt Crises
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