June 1931
1 - 6 June
During the first few days in June, the Reichsbank is forced to issue 164 RM in gold and foreign currency for the repayment of short-term loans due to increasing worry amongst investors.
[Büttner, p. 429]
20 June
Hoover proposes a one-year moratorium on international payment obligations. In doing so Hoover aims to prevent the imminent national bankruptcy and economic collapse in Germany, which would have an equivalent impact on private American investors and the American state.
[Kolb, p. 137-138]