Mefo bills

Financial instrument used to finance Nazi German rearmament

A Mefo bill, named after the company Metallurgische Forschungsgesellschaft, was a promissory note used for a system of deferred payment to finance the Nazi German government's programme of rearmament, devised by the German Central Bank President, Hjalmar Schacht, in 1934. These Bills acted as a highly liquid form of debt for the Nazi government, allowing them to rearm under the Versailles Treaty.

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