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<p>[QUOTE=&quot;lettow, post: 2241064, member: 6986&quot;]I&#039;m a bigger stock in the mud, even this is wrong.&nbsp; MPC was not issued during WWII.</p><p><br /></p><p>During the war and until MPC was issued in September 1946 US military personnel overseas were paid in local currency.&nbsp; In the allied countries (UK, Belgium, etc.) the US bought foreign currency for pay purposes.</p><p><br /></p><p>In the occupied countries, US personnel were paid in AMC.&nbsp; AMC was also used by the military authorities to pay for requisition property and supplies.&nbsp; AMC became a part of the local economy and its use by the occupying authority meant that the occupied country was compelled to pay the expenses of the occupation.</p><p><br /></p><p>While civilians were able to use AMC, it was put into the economy only by the military authority.&nbsp; The pre-war and wartime paper money in Germany, Italy and Japan remained legal tender during the occupation.&nbsp; AMC did not replace the existing currency it supplemented it.&nbsp; The Reichsbank did have to obtain AMC marks because it was unable to print New notes.&nbsp; By its nature AMC became part of the local economy.</p><p><br /></p><p>MPC , on the other hand, was intended to segregate US military pay from the local economy to prevent black market exchange rates from creating an imbalance in the amount of US money in and out of theater.&nbsp; By creating a medium that could be exchanged into the local currency but not back again any excess profit from high exchange rates remained in country and was not transferred back to the US.&nbsp; I recommend Walter Rundells book <i>Black Market Money </i>for an in-depth treatment of currency control during the&nbsp; post WWII occupation.[/QUOTE]</p><p><br /></p>

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