Anvil is a tool used by blacksmiths, and it is the surface on which the object is placed which is worked on with a hammer- stroked with a hammer.
von Bülow meant (in 1899) that Germany will either have to colonize others ( be the hammer) or it would have to risk being colonized itself (being the anvil), hence showing the need for Germany to participate in colonization.
Answer:
A combination of unpaid loans, bad debts, and mass withdrawals
Explanation:
Deflation increased the real burden of debt and left many firms and households with too little income to repay their loans. Bankruptcies and defaults increased, which caused thousands of banks to fail. In each year from 1930 to 1933, more than 1,000 U.S. banks closed.
He believed he ruled as an absolute monarchy and the other monarchies were arbitary monarchies.