The July Crisis: Great War Inflation

Great War Economics Part 2 In my previous posting, I asked what is the deal with 1916, the year the Great War turned decidedly against Germany.  The reason is singular–a horrid winter. Turnip Winters Even in the 21st century, Germans still pity the unique hardships their forefathers suffered on their First World War home front… … Continue reading →

The July Crisis: the Pirates of Lake Champlain

Great War Economics, Part 1 Reenter the economic angle.  Almost any study of German First World War economic performance inevitably gravitates to the 1923 hyperinflation… The German government also funded its Great War through inflation. By war’s end, money in circulation had risen fourfold. Prices were up 140%. Yet, on international exchange, the German mark … Continue reading →

The July Crisis: Erich Ludendorff, 1918

Notes on First World War Revisionism, Part 2 From his out-sized influence but relatively low name recognition, historians dubbed Ludendorff the ‘silent dictator…’ Martin Kitchen in his book entitled The Silent Dictatorship argued that after the military defeat of July 18th “an increasing number of officers in the OHL were convinced that the war could … Continue reading →

The July Crisis: 28 July 1914 to 18 July 1918

Notes on First World War Revisionism, Part 1 After coming to a far different view than the common historical consensus on how events unfolded in the years leading up to the First World War’s outbreak, it might seem rich for me to argue historical revisionism ran rampant though European capitals and Washington D.C. after the … Continue reading →

First Great German Failure

The preceding posting, which traced the ugly history of Germany from imposing a massive indemnity against France in 1871, endeavored to show when Bismarck’s realpolitik was supplanted by Miquel’s weltpolitik in 1897 the First World War became inevitable.  This isn’t a new theory: The new German Empire, which emerged from three local wars against Denmark, … Continue reading →

The Unacknowledged History of the Plundering Nation, 1870-1923

In the unfolding drama of Greece versus the Troika (the European Central Bank, the European Commission and the International Monetary Fund), another powerful actor, the Federal Republic of Germany, casts a long pall over the “negotiations.”  Considering the FRG and its antecedents have a very checkered history in relation to the rest of Europe, this … Continue reading →

Unacknowledged Damage

So, Europe has entered its endgame with regards to Greece, namely it appears to be strangling the Hellenic Republic: The European Central Bank’s governing council is expected to turn off Emergency Liquidity Assistance (ELA) for Greek banks at its meeting later today, according to well-placed sources. So unless Greek savers miraculously decide to cease withdrawing … Continue reading →