Germany made a substantial financial profit from WWI reparations. (I'm going to repeat that another 100k thousand times before I die. Germany did not suffer crippling reparations payments.)
Popular history tragically has come to embrace the German ultra-nationalist / Nazi propaganda about outside forces seizing temprorary German weakness to exploit Germany with crippling reparations. These devilish outside forces are alternatively Jews/Democracies/Western capitalist imperialists, or, in the anglo-fascist variant, the French.
Reality is the opposite:
Germany declared itself defeated in 1918. In accordance with the fourteen points and explicit pre-armistice agreements, Germany in the armistice agreed to pay full reparations for civil damages. Despite this agreement, in the actual peace treaty of Versailles and in subsequent agreements, Germany was asked to pay a mostly token amount.
To help Germany pay for these reparations, it recieved substantial financial aid in the form of loans. These loans were greater than what Germany was expected to pay in reparations.
However, Germany barely paid any reparations at all. Of what little it paid, only one third was paid in money. The remainder was paid for largely simply in returned loot and stolen art. A mere return of property, which nonetheless the allies had grudgingly come to accept as counting towards reparations payments.
The substantial loans that Germany received, meanwhile, Germany used to prepare itself for another war. And, since 1922, to prop up Germany's new ally, with whom it sought to overthrow the peace and order of Europe: the Soviet Union.
In 1932, Germany defaulted on the loans, declared they would not be paid back. The allies woulod never receive their money back. This way, the allies had now not only borne all of the costs for WWI, they had also paid towards Germany's renewed bid for supremacy. A few months later, early 1933, the German military-industrial caste thought it had found just the right puppet who could intimidate the world not to ask for its money back. The deed had been done.
In this way, a duplicitous Germany had outwitted the victors of WWI: the allies had not only footed the bill for WWI, they had paid towards German preparation for WWII too.
That's the short version of the long version, which is still too long, so very brief:
Bookmarks