Posts Tagged ‘Economy’

The New Administrations’ Bay of Pigs

February 10, 2009

I just came across this little gem of a fact relating to the reparations that post WWI Germany was to pay, decided at the Treaty of Versailles;

In January 1921, the total sum due was decided by an Inter-Allied Reparations Commission and was set at 269 billion gold marks (2,790 gold marks equalled 1 kilogram of pure gold), about £23.6 Billion, about $32 billion (roughly equivalent to $393.6 Billion US Dollars as of 2005).

The figure was later cut in half. Ask any junior high-school student the root cause of WWII and the cause of the economic collapse of Germany, and they’ll answer, “The Treaty of Versailles.” I hope to hell these ‘economists’ know what they’re doing in spending two or three times the amount that bankrupted German.