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ID:1399229
User:169.204.230.154
Article:World War I reparations
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(Reverted good faith edit(s) by 71.199.135.34 using STiki)
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'''World War I reparations''' were the payments and transfers of property and equipment that [[German Empire|Germany]] was forced to make under the [[Treaty of Versailles (1919)]] following its defeat during [[World War I]]. [[Article 231 of the Treaty of Versailles|Article 231]] of the Treaty (the 'war guilt' clause) declared Germany and its allies responsible for all 'loss and damage' suffered by the [[Allies (World War I)|Allies]] during the war and provided the basis for reparations.
 
'''World War I reparations''' were the payments and transfers of property and equipment that [[German Empire|Germany]] was forced to make under the [[Treaty of Versailles (1919)]] following its defeat during [[World War I]]. [[Article 231 of the Treaty of Versailles|Article 231]] of the Treaty (the 'war guilt' clause) declared Germany and its allies responsible for all 'loss and damage' suffered by the [[Allies (World War I)|Allies]] during the war and provided the basis for reparations.
   
In January 1921, the total sum due was decided by an [[Inter-Allied Reparations Commission]] and was set at 269 billion [[German gold mark|gold marks]] (the equivalent of around 100,000 tonnes of pure gold). This 100,000 tonnes of gold is equivalent to more than 50% of all the gold ever mined in history (est. 165000 tonnes) which was clearly not within the means of the Germans to pay. Consequently their only way of paying back the debt was in foreign currency, but attempts to purchase foreign currency with devalued paper Marks led to the [[Hyperinflation in the Weimar Republic|hyperinflation]].
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In January 1921, the total sum due was decided by an [[Inter-Allied Reparations Commission]] and was set at 269 billion [[German gold mark|gold marks]] (the equivalent of around 100,000 tonnes of pure gold). This 100,000 tonnes of gold is equivalent to more than 50% of all the gold ever mined in history (est. 165000 tonnes) which was clearly not within the means of the Germans to pay. Consequently their only way of paying back the debt was in foreign currency, but attempts to purchase foreign currency with devalued paper Marks led to the.Chloe booze was here. [[Hyperinflation in the Weimar Republic|hyperinflation]].
   
 
Historical conversions between currencies are based on the nominal [[gold standard]]s of each currency: one [[German gold mark|gold mark]] ≡ {{frac|2790}} kg pure gold; one [[pound sterling]] ≡ 113 [[grain (unit)|grains]] pure gold; one [[United States dollar|U.S. dollar]] ≡ {{frac|25|8|10}} grains gold at {{frac|9|10}} fineness (= 23.22 grains pure gold). (${{formatnum:{{Inflation|US|64|1921|r=0}}}} billion in {{CURRENTYEAR}}),{{#switch:US
 
Historical conversions between currencies are based on the nominal [[gold standard]]s of each currency: one [[German gold mark|gold mark]] ≡ {{frac|2790}} kg pure gold; one [[pound sterling]] ≡ 113 [[grain (unit)|grains]] pure gold; one [[United States dollar|U.S. dollar]] ≡ {{frac|25|8|10}} grains gold at {{frac|9|10}} fineness (= 23.22 grains pure gold). (${{formatnum:{{Inflation|US|64|1921|r=0}}}} billion in {{CURRENTYEAR}}),{{#switch:US
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