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To: yefragetuwrabrumuy

And just exactly how much gold does Greece have to back the New Drachma?


35 posted on 06/29/2015 9:18:31 PM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: catnipman

That is a very good question. Weimar Germany was also thought to be stripped of gold by that time, as part of its war reparations. But in short order, likely with some outside help, they were able to assemble enough to back the Rentenmark.

Granted, the number of Rentenmark was tiny compared to how many Reichsmark were eventually needed, once the economy had stabilized, which meant that Germany quickly got a lot more gold from somewhere.

Thinking back on it, remember all the talk about “Nazi gold”? The Nazis were always very careful to smelt and re-mint their gold as Nazi gold, which (at least back then) erased all indication of its origins. Yet they seemed to have an enormous supply of gold from somewhere.


40 posted on 06/30/2015 5:20:42 AM PDT by yefragetuwrabrumuy ("Don't compare me to the almighty, compare me to the alternative." -Obama, 09-24-11)
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