In the context of this discussion and Sub Forum, the only real "What If" I'd like to see is IF Hitler would have given the KM the ten years for Plan Z before the war started. Would there have been enough resources for any real chance at a significant fleet (NOT parity or even a large percentage of the Allied - just significant) AND the 300 sub fleet? Don't think so - but the interaction of the Allies to rearmament and a long-term finalization of the German theories of war (actual full mechanization of the Heer - and not fully a third of the Panzer assets being training tanks!) would be a very interesting discussion. Ultimately doomed to futility - but interesting .....
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