BeautifulMind,
@BeautifulMind@lemmy.world avatar

You mean something like a third Reich?

Well, yeah. In very real ways WWII was about upending the post-WW1 order (which was punitive of Germany generally). It’s really interesting to understand how crazy the flows of money were, and how badly the US in particular bungled its role as the issuer of the world’s de facto reserve currency at the time- in the aftermath of WWI, Germany and its allies were made to pay reparations, France occupied the industrial territory on their border, and any money France or Belgium or Holland received in reparations promptly went to American banks, to repay war bonds borrowed to finance the fighting (which had, in turn, been spent in American factories on war materiel, weapons, munitions, etc).

www.theatlantic.com/international/…/384034/(sorry this is paywalled now, it was a really good read when it was available so I’ll summarize briefly)

By the end of the first world war, all of the belligerent nations’ economies were in tatters, their leadership were forced to inflate their currencies to make payments- but the US declined to inflate its own currency to make it workable for them- and when the US didn’t think about its new role in maintaining a viable world order, it put everyone that owed it anything in the position of paying their debts not in their own inflated currencies, but in US dollars. This essentially collapsed the German economy and its currency, and it was just unnecessary.

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