NF: If we don’t pay reparations for a year, we should be able to store enough gold to back our new currency. The problem is that we need to be careful with printing, as we are now establishing a standard (gold). To do so, the Reichsbank will be established as an autonomous agency, headed by Doctor Schacht (DDP member), so govts won’t be able to print too much. The Reichsmark must be introduced, and a new prosperity will come with a new currency. ((Maybe this could give me admin too? )) 9

Normal Orders:

* We owe the Americans money but the way they acted in the recent crisis clearly undermines the trust we had in them. Loans aren’t a weapon, and Germany clearly opposes the way the banking establishment has been handling its business. On the other hand, Germany is now financially responsible and its notation could go up. We’ll thus approach other banks, such as Swiss ones, for the new loans. The Americans should thus reconsider the poor rating they gave us and offer us nice conditions to retain our trust. So our loans might get cheaper. If they aren’t offering better conditions, we’ll simply get more reliable partners and watch their banking sector dwindle. What they did truly endangers the trust they enjoyed all over the world (and for private banking too), so they should be eager to meet my conditions to regain a part of their reputation. 6

* In 1919-1920, Konzerne were created by larger industries that used the crisis to buy smaller ones at reduced prices. This movement continued during the currency crisis, since inflation weakens the enterprises that have no non-monetary assets. People like Thyssen or Wolff could count on foreign loans to buy smaller enterprises and a concentration movement is clearly active. That means more capital is available to the enterprises, capital needed to modernize the production apparel. German industrial recovery continues.  6

http://en.wikipedia.org/wiki/Concern_%28business%29

* In these dire financial times, we must get rid of bloated parts of the administration. The state cannot afford to throw away the money of the people, and we will thus reform the Kreise system (like OTL) to reduce by roughly 10% the amount of counties. The idea is that old Kreise that were kept even though they were too small must be merged to create viable entities, with enough population (keeping geographical and economical necessities in mind, we mustn’t merge things that are economically independent or too far apart). 2