Guest Post: Hitler’s Economics & Why You Should Know A Thing Or Two About Them

Tyler Durden's picture

Submitted by Chris Rossini via The Mises Economic blog,

Hjalmar Schacht was Hitler’s economic guy. According to Wikipedia, Schacht: ”became a supporter of Adolf Hitler and the Nazi Party, and served in Hitler’s government as President of the Reichsbank and Minister of Economics. As such, Schacht played a key role in implementing the policies attributed to Hitler.”

Now, we all know what happened to Hitler. But what about Schacht?

On June 9, 1947 Henry Hazlitt would write in Newsweek:

Nazism was defeated in war. Hjalmar Schacht, the Nazi economic wizard, is in jail.

So Hitler was dead, and his economic guy went to jail

But what about the economic ideas that the two would implement together? What happened to them?

Hazlitt continues:

But when Schacht and his surviving comrades survey the world today, they must feel consoled. Intellectually Schachtism has conquered Europe. The system of price control, wage control, profit control, interest control, exchange control, foreign-trade control, bilateral treaties, rations, priorities, allocations, quotas, with a special license required for almost every more, and with a mounting currency inflation hidden and repressed by these devices – this is Schachtism. And this is the system which nearly every country in Europe has now embraced.

So the ideas did not die, nor were they confined to a jail cell. Each and every one of those ideas, were not only embraced by Europe, but by the U.S. as well!

Hitler’s foreign policy aspirations may have been defeated by the war. However, the same cannot be said about his economic policies. Those ideas would be embraced and implemented by the victors of the war!

More than any other system of ideas, it is Fascism that should be #1 on the Libertarian priority list to debunk and persist against. The governing elites are well aware that even they can’t sustain themselves under a system of Communism. However they do believe that Fascism is their golden chalice.

What is Fascism?

Lew Rockwell has the answer:

Fascism is the system of government that cartelizes the private sector, centrally plans the economy to subsidize producers, exalts the police state as the source of order, denies fundamental rights and liberties to individuals, and makes the executive state the unlimited master of society.

Does that sound like America today? Do I even have to ask?

We are all involved in the struggle of Liberty vs. Fascism.

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Henry Rearden's picture

Can you elaborate and give proof to this guy's economic theories?  This is a blanket statement with no meat to it.


I'd like to agree with you, but there is no sound argument or logic in this post whatsoever. 

Boris Alatovkrap's picture

All autocratic regime is void of necessity of congruent economic theory. Never is necessity of articulation of principle. You must study Lysenko. Tyranny is leave sound argument and logic at coat check.

Grifter's picture

This thread should be dedicated to Cheeky Bastard and all the old ZH'ers who participated in that fantastic thread about Hjalmar Schacht way back during ZH's infancy.  I still remember that thread to this day, and the insane multi-browser tabbed journey it took me on.

max2205's picture

What ever....the market is tanking on a 4 bill pomo day


Told you that they'd use pomo one day to buy bonds. ..up .4%

Anusocracy's picture

An oldie but a goodie:

World War II Is Finally Over: Hitler Won!

optimator's picture

Japan and the Emporor won too.  After we dropped the two A-Bombs the Imperial Japanese Army secretly showed us a weapon 100 times more powerful.  The agreement to end the war stipultated they'd let America look like it won, but they'd have to rebuild the Japanese economy, let Japanese companies flood america with cars and little radios...

The Shootist's picture

I've always held that the word fascism has no meaning. It doesn't exist in a vacuum, there are other more verbose ways of describing a political apparatus.

Anyways, Ghengis Khan was a fascist.

gmrpeabody's picture

Wow, Grifter, take us back to Cheeky Bastard...,

Those were the days...

StandardDeviant's picture

The problem is, it has too many meanings.

Umberto Eco does a nice job of compiling a list of archetypal characteristics of "fascist" movements.  Not every group which you'd consider fascist will have all of these characteristics, and two different fascist groups may have very few in common; but any group which holds to a substantial number of them is deserving of the name.

(This is based on a longer article published originally in The New York Review of Books, and reprinted in Five Moral Pieces.)

Blano's picture

Behold the winner of the 2014 dumbest post of the year award.

Againstthelie's picture

And therefore the white Aryan nations are destroyed and politicians are the actors of the international banksters?

The USA is a PLUTOCRACY. Money rules, not politics. And Plutocracies usually camouflage themselfes as Democracies: money controls the media and the media control the masses. Not politicians. Money rules in the USA, not the people.

In Nationalsocialism, Fascism and Communism politics rules, not the banksters.

Funny how libertarianism tries to push for even weaker nation states, more power for international high finance. Pornography is libertarian. Gay marriage is libertarian. A weak justice system is libertarian. No social security is libertarian. Interest slavey is libertarian. Exponentially rising interest income is libertarian. No good public schools for everyone but private schools as the only good schools for the rich ones is libertarian. A weak justice system is libertarian (because only a strong state can keep the money masters in check). Open borders and wage dumping is libertarian.

In Libertarianism everything is allowed that makes money. Therefore Libertarianism is the enemy of the nations and their culture.

WeekendAtBernankes's picture

Your last paragraph is one of the most ignorant things I've ever read. Log off before you hurt yourself.

cdevidal's picture

Grifter: Can't find it, can you please share the link, or what you learned?

Save_America1st's picture


do you have the link or date of that thread?  would love to read it


kwatinhu's picture

Hey Warrior, just clicked over to this blog this week (your blog?) And found the thinking more or less dove tails with my own. I'll be reading more, but time is such a precious commodity, you know.
Thanks for the links, I may start to contribute over there.

Crawdaddy's picture

Just clicked over there myself. I like any site that has Yuri Bezmenov and a babe laying down the smack on the IRS. Thanks Warrior.

john39's picture

remember kiddies, and repeat after me... WWII happened just like we said it did...  evil nazis did all the bad stuff, good banker occupied UK and US saved the World, with the help of zio-communist Russia...   and, anti-usury talk is a hate crime.

Spastica Rex's picture

Those British commandos were pretty brutal, and that Dresden-bombing-thing pretty deplorable.

No, I do get it - you were being sarcastic.

+1 for you.

CoonT's picture

I just ordered Mein Kampf, from Amazon; should be here in a couple days. Time to peek behind this curtain.. 

optimator's picture

You can get the various translations free online if you look for them.

Karl von Bahnhof's picture

Together with "The protocols" tm. You will get the picture.

Trucker Glock's picture

"should be here in a couple days."

The book or the swat team and ADL/SPLC?



MichiganMilitiaMan's picture

Another curtain in the same room to peak behind.  If you dare.

How do You Kill 11 Million People:

LMAOLORI's picture



With Communism force is used to obtain and maintain control.


People voted obama in willingly but then again the same was true of Hitler


"The American people will never knowingly adopt socialism, But, under the name of 'liberalism,' they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened."

Norman Thomas (US Socialist Presidential Candidate)


"The American Republic will endure, until politicians realize they can bribe the people with their own money."

Alexis de Tocqueville


Does it really matter what you call it?  Socialists/Communist's didn't think so.


" It is about the creation of an international political control arrangement by which bureaucrats who favor socialism can gain control over the international economy."

Perhaps if not for Stalin it would have been implemented earlier but he wouldn't play along.


I say again the only real difference between the ism's (Socialism/Fascism/Communism) is the method used to achieve the end goal of totalitarian control.  That's the part they don't tell you in those types of regimes only those at the top or with connections live in comfort.


divide_by_zero's picture

Add Progressivism, they hide under many names but same old shit

Dewey Cheatum Howe's picture

The people did not willingly vote in Hitler, deception and political backwheeling and dealing is what brought Hitler to power....,_July_1932,_November_1932

1. The Nazi party didn't win enough votes to be brought into the government.,_1932

2. Hitler lost the Presidential election and by a consideral margin to Hindenburg.

Hitler was appointed Chancellor by Hindenburg in 1933. 

In 1933 you had the Reichstag fire which was claimed to be started by Communists but was a false flag Nazi attack to remove competition and public support for opposition candidates in the 1933 election.

The day after the fire Hitler asked for and received from President Hindenburg the Reichstag Fire Decree, signed into law by Hindenburg using Article 48 of the Weimar Constitution. The Reichstag Fire Decree suspended most civil liberties in Germany[8] and was used by the Nazis to ban publications not considered "friendly" to the Nazi cause. Despite the fact that Marinus van der Lubbe claimed to have acted alone in the Reichstag fire, Hitler, after having obtained his emergency powers, announced that it was the start of a Communist plot to take over Germany. Nazi newspapers blared this "news".[8] This sent the Germans into a panic and isolated the Communists further among the civilians; additionally, thousands of Communists were imprisoned in the days following the fire (including leaders of the Communist Party of Germany) on the charge that the Party was preparing to stage a putsch. With Communist electoral participation also suppressed (the Communists previously polled 17% of the vote), the Nazis were able to increase their share of the vote in the March 5, 1933, Reichstag elections from 33% to 44%.[9] This gave the Nazis and their allies, the German National People's Party (who won 8% of the vote), a majority of 52% in the Reichstag.[9]

While the Nazis emerged with a majority, they fell short of their goal, which was to win 50%–55% of the vote that year.[9] The Nazis thought that this would make it difficult to achieve their next goal, which was to pass the Enabling Act, a measure that required a two-thirds majority.[9] However, there were important factors weighing in the Nazis' favor. These were: the continued suppression of the Communist Party and the Nazis' ability to capitalize on national security concerns. Moreover, some deputies of the Social Democratic Party (the only party that would vote against the Enabling Act) were prevented from taking their seats in the Reichstag, due to arrests and intimidation by the Nazi SA. As a result, the Social Democratic Party would be under-represented in the final vote tally. The Enabling Act, which gave Hitler the right to rule by decree, passed easily on March 23, 1933. It garnered the support of the right-wing German National People's Party, the Catholic Centre Party, and several fragmented middle-class parties. This measure went into force on March 27 and, in effect, made Hitler dictator of Germany.


So as you can see the Nazi's gamed the system to rig the 1933 elections in their favor by getting Hitler emergency powers through a false flag attack ahead of the elections. Once in they sealed the deal with the enabling act. Sounds kind of like 9/11 and the Patriot Act now doesn't it minus the dictator part.



Karl von Bahnhof's picture

Dont be fooled by Wikipedia (zion tm).
He was cheered all the way, check photos.

You kno why?

Crawdaddy's picture

Well considering what media we see and hear with regards to that time period is just as controlled and manilpulated as US & Europe is today, I'd say the people not willing to cheer were not at the rallies. A photo op is not a reliable measure of public sentiment until you get to a "end of administration" style photo op where dear leader is either  lionised e.g. Turkey's Atatürk or hanging upside down e.g. Mussolini & wife.

Kayman's picture

"the Nazis' ability to capitalize on national security concerns"

It's a damn good thing people won't be bamboozled with false "national security concerns" anymore...

Karl von Bahnhof's picture

No, it was because complete destruction of society principles.

Something we see today.

bh2's picture

"the Nazi's gamed the system to rig the 1933 elections in their favor"

Take a few minutes, sometime, to read FDR's speeches in the runup to the 1932 US election. Particularly the parts where he roundly condemned Hoover for creating too many federal agencies and expanding government power.

It is by no accident that even FDR's own staff privately referred to him as "The Great Deceiver".

Many years after, Harold Ickes admitted most of the programs which became known as The New Deal were, in fact, put on the drawing board by the Hoover administration. Hoover, of course, was just another "Progressive" politician who happened to be a Republican. That modern Progressives demonize him as Satan Incarnate is a particularly rich irony.

The Germans were just damn unlucky. They got Hitler. We got Roosevelt. Both were fascists in an age of fascism.

gmrpeabody's picture

Oh, there were differences alright

"The Germans were just damn unlucky."  I must have missed the <sarc>...

shovelhead's picture

All perfectly legal if Hitler signed an Executive Order.


Waita minute....

nmewn's picture

Excellent and I'll try not to butcher the meaning of what you said.

All perfectly legal.

I want everyone to say it again, to yourselves, in a whisper...just do it for me.

"Its all perfectly legal. So, nothing to see here...its all perfectly legal."

Right? Very comforting isn't it?

Now, move along.

Fish Gone Bad's picture

Perfectly legal is usually pre-prepared by some vested interest and just needs the right moment to make it all nice and legal.

Vendetta's picture

"Sounds kind of like 9/11 and the Patriot Act now doesn't it minus the dictator part."

Who needs a dictator when you have two political parties that offer up virtual clones of each other with regard to economic policies but their political rhetoric sounds different but in essence, as far as actions are concerned, are identical.

Disenchanted's picture

re: "1933"

Coincidentally, that was also the same year the 13th Tribe declared war on Germany.

drendebe10's picture

Correction.  The arrogant, lying,narcissistic illegal alien looks like a dictator to many. 

Cap Matifou's picture

Stalin was only made aware of the real shakers and movers of world affairs, who could crush him like a fly, after he interrogated certain comrades of his main enemy, the ousted revolutionist Leon Trotsky.
"Insofar as the accused Rakovsky made it clear, having in mind the sparing of his life, that he could give information about matters of very special interest, Stalin gave orders to his foreign agent to carry out the questioning. It is known that Rakovsky was sentenced to be shot, like the others, but was reprieved and given 20 years of prison. "

Lost Word's picture

Could you provide a summary?

I do not have time to read the book link.

Stoploss's picture

Here is an idea.

Do some research on Schact, then answer your own question.

Lysenko is another, one in the same. Isall ths same.


WTFx10's picture

Research? Ah thats like work.

Henry Rearden's picture

By research, do you mean read his wikipedia page?  Because that is not a reliable source. 


I personally could change his wikipedia page to read anything I want it to.


Further, none of his economic ideas are present on his wikipedia page except for the fact that he supported German autarky especially after the reperations being paid for WWI.  Pretty sure everyone would agree with him on that.  Nazi supporter and German Jew alike. 

Look I get the fact that this guy is a nazi, fine, and he is a certral banker, sure.  But that does not mean all central bankers are all nazis.  That is the conclusion the writer would have you beleive and he offers no congruent, well laid out argument in support.  He just makes a dumb fucking blanket statement, and stands on quotes of other people's opinions.  This post is fucking retarted.  It reads like it was written by a fucking 10 year old and if you think it is a good post you should really think about how biased you already are. 

I am willing to accept anyone ideas and arguments if they are carefully constructed and the premises makes sense.  This guest post is worthless trash.  If you like it, keep beating on the drums because you are a fucking monkey.

LFMayor's picture

So why don't you go correct that page?

joak's picture

Have you ever tried to change something in wiki ? This crap is written by the most conformist sheeples, you have to source everything with "leading and reliable authorities", which means, on sensitive subjects, liars. Try to bring some contradiction and either you will be disregarded, either there will be some comment saying that "some people believe this but they are considered as retards by the leading and reliable authorities". By its nature, (Encyclopedia and collaborative), it is no surprise to end up with such content, but don't expect to find interesting info there, challenging any kind of status quo. 

Kayman's picture

"This post is fucking retarted."

We are lucky that you aren't retarted either.

adeptish's picture

"retarted" not a good word to mis-spell...