Run on German gold forces Reichsbank rate hike
Citations (1)
- Lords of Finance whole source · open book
In any case, Germany suddenly began to lose gold at an accelerating pace—$100 million over the next ten days, forcing the Reichsbank to raise rates to 7.5 percent, despite Germany’s being deep in recession, with two million unemployed.
chapter: 16. INTO THE VORTEX - 1928-29