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From Niall Ferguson’s ‘The Pity of War’ (paperback edition)
p400
There is, however, no question that a series of meetings with one of the German representatives at Versailles added an emotional dimension to Keynes’ position. Carl Melchior was Max Warburg’s right-hand man (……..) It may be that Keynes’ subsequent declaration that he ‘got to love’ Melchior during the armistice negotiations at Trier and Spa obliquely alluded to a sexual attraction. As we have seen, Keynes was an active homosexual at this time. However, it seems more likely that Keynes was simply captivated by the sound of his own pessimism…..
So Ferguson has previous on this…..