Sample
1931: Debt, Crisis, and the Rise of Hitler - Tobias Straumann

1931: Debt, Crisis, and the Rise of Hitler

1931: Debt, Crisis, and the Rise of Hitler

3.5 8 5 Author: Tobias Straumann Narrator: Nigel Patterson
As audiobook.
Germany's financial collapse in the summer of 1931 was one of the biggest economic catastrophes of modern history. It led to a global panic, brought down the international monetary system, and turned a worldwide recession into a prolonged depression. The reason for the financial collapse was Germany's large pile of foreign debt denominated in gold currency which condemned the government to cut spending, raise taxes, and lower wages in the middle of a worldwide recession. As the political resistance to this austerity policy grew, the German government began to question its debt obligations, prompting foreign investors to panic and sell their German assets. The resulting currency crisis led to the failure of the already weakened banking system and a partial sovereign default.

Hitler managed to profit from the crisis, because he had been the most vocal critic of the reparation regime. As the financial system collapsed, his relentless attacks against foreign creditors and the alleged complicity of the German government resonated more than ever with the electorate.

In 1931, Tobias Straumann reveals the story of the fatal crisis, demonstrating how a debt trap contributed to the rapid financial and political collapse of a European country, and to the rise of the Nazi Party.
Language: English Category: History Translator:

More information about the audiobook:

Publisher: HighBridge Audio
Published: 2019-06-01
Length: 6H 15Min
ISBN: 9781684570256
Comments

Always have a good book lined up - Listen and read whenever you want

Read and listen to as many books as you like! Download books offline, listen to several books continuously, choose stories for your kids, or try out a book that you didn't thought you would like to listen to. The best book experience you'd ever had.

Free trial for 14 days