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<p>[QUOTE="Neal, post: 3098296, member: 43872"]True, reparations were required to be paid in gold, or in foreign currency such as British pounds exchangeable for gold. This made it all but impossible to pay the cash war bonds not required to be paid in goldmarks or to conduct normal government. This was especially true when they lost control of some of their most important industrial territories. I understand they issued more bonds to try to raise foreign currency which could be used to pay the reparations. There is a lesson to be learned here about having too much debt and trying to print too much paper to pay that debt. Paper works fine as long as a country has sufficient assets to cover it. That need not be specie. In fact, economic production of goods and services is the real source of wealth of any nation. But Germany lost both specie and economic production and tried to cover it with tons of paper, hence the OP's paper only has slight collector value.[/QUOTE]</p><p><br /></p>
[QUOTE="Neal, post: 3098296, member: 43872"]True, reparations were required to be paid in gold, or in foreign currency such as British pounds exchangeable for gold. This made it all but impossible to pay the cash war bonds not required to be paid in goldmarks or to conduct normal government. This was especially true when they lost control of some of their most important industrial territories. I understand they issued more bonds to try to raise foreign currency which could be used to pay the reparations. There is a lesson to be learned here about having too much debt and trying to print too much paper to pay that debt. Paper works fine as long as a country has sufficient assets to cover it. That need not be specie. In fact, economic production of goods and services is the real source of wealth of any nation. But Germany lost both specie and economic production and tried to cover it with tons of paper, hence the OP's paper only has slight collector value.[/QUOTE]
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