It seems to be a pretty widespread misspelling, but it was
named "Rentenmark" and not "Retenmark". Renten means bond as
the notes were supported by mortgage bonds.
See http://en.wikipedia.org/wiki/Rentenmark with photo.
Hyperinflation was a serious problem in the Weimar Republic,
but it's a common misconception that hyperinflation led
directly to the Nazis gaining power, hyperinflation had ended
Carrol Cox wrote:
> Jennifer Formichelli wrote:
>>(by the time Hitler rose to power in 1933, for instance,
>>I believe that the mark was almost worth less than the paper
> By 1933 the hyperinflation was a decade in the past. Here
was the end of
> that period:
> In November 15  a new currency, the Retenmark was
> Retenmark was theoretically backed by all land and industry
owned by the
> government. One new Retenmark was worth a Trillion of the
> Prices stabilized under the new currency, however the wealth
of most of
> the nation's citizens had been destroyed.
> From the same source:
> 100 Billion Mark, Nov. 3 1923 City of Freital
> [Under a picture of that piece of paper]
> On November 1 100 Billion Mark would buy 3 pounds of meat.
> Bread is 3 Billion Mark a loaf.
> On November 15 100 Billion Mark would buy 2 glasses of beer
> Bread is 80 Billion Mark a loaf.
> By 1923 it was the Great Depression (throughout the advanced
> countries only -- Brazil was doing better than it ever has
> inflation that ruled. Prices were plunging -- even,
> zero. My parents didn't pay off all their grocery bills from
> until the 1950s -- and that was voluntary on their part.
> since many of the grocery stores that offered credit in the
'30s were no
> longer in business.