Oil exporting People wrote:Imperializt Russia wrote:eerrrrrrrrrrr
They had run out of cash or assets to pawn off by late 1916 and were likewise, according to several observers, down to about six weeks of strategic materials (Including food, IIRC) by April of 1917. You can't fight a war with no bullets or bread, as you know.
You're conflating the budget with the u-boat blockade.
Britain never ran out of money and had defeated the u-boats with convoy before the US entered the war.
Very few American troops even landed in Europe in 1917 and the British were on the offensive right to the end of the campaign season of that year.
The earliest the Entente could have lost the war was the German Spring Offensive in 1918, but the number of American troops at that time were also low, they were considered the lowest quality manpower, were being equipped mostly from French and British stocks, and mostly stationed outside the battle area. So it seems unlikely it would have made a difference.
There is a much stronger case that American troops were needed to decisively end the war in 1918 with the Hundred Day Offensive, but the worst outcome for the Entente at that point was a white peace, with or without America.