After World War I, Germany owed 132 billion gold Marks in reparations ($2.84 trillion USD). Germany began printing more paper money without gold reserves, which led to hyperinflation. The U.S. 1924 Dawes Plan allowed Germany to restructure reparations and attracted foreign loans. A cultural renaissance, known as the Weimar Renaissance or the Golden Twenties, laid the groundwork for Hitler’s rise and the establishment of the Third Reich.