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Latest comment: 8 months ago1 comment1 person in discussion
Hey, I was wondering what the source was for the following extract:
This system continued to be used until April 1938, when almost 12 billion Reichsmark (equivalent to 27.6 billion euros in 2021) of such bills were outstanding. At that time the first of these bills, which were guaranteed for five years, would come due in 1939 when the holders would likely present them to the Reichsbank for payment.
This method of financing enabled the Nazi government to obtain large loans from the Reichsbank which was prohibited under then existing statutes. Direct lending to the Government by the Reichsbank had been limited by statute to 100 million Reichsmark.