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This text critically re-examines Lloyd George's part, crucial but enigmatic, in the "lost peace" of Versailles, 1919-1940. In a re-examination of six key episodes 1919-1940, it reviews his protean role at the Paris Peace Conference, 1919, his strategy on reparations, his abortive guarantee treaty to France, and the emergence at the Conference of "Appeasement". It then reassess his controversial visit to Hitler, and his bids to halt World War II after the fall of Poland and France. The portrait of Lloyd George drawn is him as volatile and devious, sincerely furthering British interests and far from duped by Hitler.