The Weimar Republic didn't have a contracting money supply in that period
https://www.businessinsider.com/weimar-germany-was-destroyed...
I think you might be thinking of the hyperinflation of 1923? That's when Germany printed money to pay off war debts. But the hyperinflation was over long before 1929.
This made unemployment skyrocket and arguably caused the rise of Hitler.
https://en.wikipedia.org/wiki/Weimar_Republic#Br%C3%BCning's...
EDIT: I'm not sure why all the downvotes, maybe because it looks like I Godwin-ed the thread? I was just paraphrasing the rest of the wikipedia section:
"In 1933, the American economist Irving Fisher developed the theory of debt deflation. He explained that a deflation causes a decline of profits, asset prices and a still greater decline in the net worth of businesses. Even healthy companies, therefore, may appear over-indebted and facing bankruptcy.[57] The consensus today is that Brüning's policies exacerbated the German economic crisis and the population's growing frustration with democracy, contributing enormously to the increase in support for Hitler's National Socialist German Workers' Party"
Even if you google "weimar republic _deflation_" emphasis mine, the first hit is https://en.m.wikipedia.org/wiki/Hyperinflation_in_the_Weimar...
> A loaf of bread in Berlin that cost around 160 Marks at the end of 1922 cost 200,000,000,000 Marks by late 1923.
I was not previously familiar with the events you referenced. It sure seems like the Chancellor made very poor choices when the Great Depression began, perhaps because he was terrified of inflation happening again.
Well in a thread about the re-emerging dominance of idiocy in silicon valley, consider it more supporting evidence.
I thought we were talking about the latter.
I could still be wrong, and if you have any data on the value of the mark used at the time, I'd be willing to move on my position.
Ultimately what I'm asking here I guess, is do we have any evidence that what Brüning was trying to do worked?
And the German Papiermark was not the default reserve currency for the entire global financial system.
At some point something will give. It is frankly stunning to me that merchants accept ongoing crisis level debts from the US as part of the normal order of things. Someone thinks they are owed something and in real terms they aren't going to get it.