15-20 November 1923: Hyperinflation peaked (15 November) with a ratio of 4,210,500,000,000:1 German Mark (ℳ) to United States dollar ($); the Rentenmark (RM) was introduced (20 November), backed by mortgages of agricultural & industrial land, with an exchange rate of 4.2:1, RM to $; the Rentenmark restored confidence, was accepted as legal tender & hyperinflation ceased overnight.
"The Explorers' Club," № DCCXXIII: From Goldmark to fiat currency Papiermark (Part I
"The Explorers' Club," № DCCCXCII: Printing Papiermark to pay war reparations (Part II)
"The Explorers' Club," № CMXXVI: The French occupy the Ruhr over war reparations (Part I)
"The Explorers' Club," № CMLXXXVIII: An attempted French protectorate in the Ruhr (Part II)
Lest we forget.
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