germany defaulted on its reparations payment, leading to french and belgian occupation of the ruhr
the german government responded with a policy of 'passive resistance', refusing to co-operate with foreign troops
to pay striking workers, the government resorted to printing more money
effects: prices rose almost hourly, and people were paid twice a day
winners: borrowers, people on wages, farmers
losers: people on fixed incomes, people with savings/loans
rebellions: communists took over the rhineland