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Kurt S. Altrichter, CRPS®

@kurtsaltrichter • 41,164 subscribers

Wealth Advisor for Entrepreneurs and Families | Father | Vet | Pension & 401k Advisor | Founder @IvoryHillWealth | RiskSIGNAL™ | https://t.co/djSE20t697 |

Shorts

On this day in 1919, Germany signed the Treaty of Versailles, agreeing to pay 132 billion gold marks in war reparations, roughly $33 billion at the time. The burden equaled more than twice Germany's annual GDP. John Maynard Keynes resigned from the British delegation in protest and published "The Economic Consequences of the Peace," warning that the terms would destabilize all of Europe. To meet the payments, the Weimar government printed money at a catastrophic pace: by November 1923, a single U.S. dollar bought 4.2 trillion marks, and the resulting hyperinflation wiped out the savings of an entire generation of Germans. Germany didn't finish paying off the debt until October 2010, when it made a final $94 million installment, 91 years after the treaty was signed.

On this day in 1919, Germany signed the Treaty of Versailles, agreeing to pay 132 billion gold marks in war reparations, roughly $33 billion at the time. The burden equaled more than twice Germany's annual GDP. John Maynard Keynes resigned from the British delegation in protest and published "The Economic Consequences of the Peace," warning that the terms would destabilize all of Europe. To meet the payments, the Weimar government printed money at a catastrophic pace: by November 1923, a single U.S. dollar bought 4.2 trillion marks, and the resulting hyperinflation wiped out the savings of an entire generation of Germans. Germany didn't finish paying off the debt until October 2010, when it made a final $94 million installment, 91 years after the treaty was signed.

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