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Guest Post: Hitler’s Economics & Why You Should Know A Thing Or Two About Them
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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Perhaps it all boils down to debt.
Yes. As Robert Hemphill, former credit manager of the Federal Reserve Bank in Atlanta, Georgia, put it: “We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. … the tragic absurdity of our hopeless position is almost incredible. It is the most important subject intelligent persons can investigate and reflect upon.
“It is so important that our present civilization may collapse unless it become widely understood and the defects remedied very soon…”
Hjalmar Schacht: Excerpts from Metapedia:
Dr. Hjalmar Horace Greeley Schacht (22 January 1877 – 3 June 1970) was a German economist, banker, liberal politician, and co-founder of the German Democratic Party. He served as the Currency Commissioner and President of the Reichsbank under the Weimar Republic. He was a fierce critic of his country's post-World War I reparation obligations.
He became a supporter of Adolf Hitler and the National Socialist Party, and served in Hitler's government as President of the Reichsbank and Minister of Economics. As such, Schacht helped implement Hitler's policies of redevelopment, reindustrialization, and rearmament.
He was forced out of the government by disagreements with Hitler and other prominent National Socialists in December 1937, and had no role during World War II. He became a fringe member of the German Resistance to Hitler and was imprisoned by the National Socialists after the 20 July plot. After the war, he was tried at Nuremberg and acquitted.
In 1953, he founded his own bank, and advised developing countries on economic development. ..
[I]n November 1923, Schacht became currency commissioner for the Weimar Republic and participated in the introduction of the Rentenmark, a new currency the value of which was based on a mortgage on all of the properties in Germany.[4] After his economic policies helped reduce German inflation and stabilize the German mark (Helferich Plan), Schacht was appointed president of the Reichsbank at the requests of President Friedrich Ebert and Chancellor Gustav Stresemann.
In 1926, Schacht provided funds for the formation of IG Farben. He collaborated with other prominent economists to form the 1929 Young Plan to modify the way that war reparations were paid after Germany's economy was destabilizing under the Dawes Plan. In December 1929, he caused the fall of the Finance Minister Rudolf Hilferding by imposing upon the government his conditions for obtaining a loan.[1] After modifications by Hermann Müller's government to the Young Plan during the Second Conference of The Hague (January 1930), he resigned as Reichsbank President on 7 March 1930. During 1930, Schacht campaigned against the war reparations requirement in the United States.[1] …
After the July 1932 elections, in which the NSDAP got more than a third of the seats, Schacht and Wilhelm Kepler organized a petition of industrial leaders requesting that President Hindenburg appoint Hitler as Chancellor. After Hitler took power in January 1933, Schacht was re-appointed Reichsbank President on 17 March. That year, President Franklin Roosevelt invited Hitler to America to discuss economic issues. Hitler refused the invitation but sent Schacht in his place where he agreed to an international tariff truce and repayment of Germany’s debt.[7]…
n August 1934 Hitler appointed Schacht as his Minister of Economics. Schacht supported public works programs, most notably the construction of autobahnen (highways) to attempt to alleviate unemployment – policies which had been instituted in Germany by von Schleicher's government in late 1932, and had in turn influenced Roosevelt's policies. He also introduced the 'New Plan', Germany's attempt to achieve economic "autarky", in September 1934. Germany had accrued a massive foreign currency deficit during the Great Depression, which continued into the early years of the Third Reich. Schacht negotiated several trade agreements with countries in South America and southeastern Europe, under which Germany would continue to receive raw materials, but would pay in Reichsmarks. This ensured that the deficit would not get any worse, while allowing the German government to deal with the gap which had already developed. Schacht also found an innovative solution to the problem of the government deficit by using mefo bills. …
Schacht disagreed with what he called "unlawful activities" against Germany's Jewish minority and in August 1935 made a speech denouncing Julius Streicher and Streicher's writing in Der Stürmer. …
In November 1937 he resigned as Minister of Economics and General Plenipotentiary at Göring's request. He remained President of the Reichsbank until Hitler dismissed him in January 1939. After this Schacht held the empty title of Minister without Portfolio, and received the same salary, until he was fully dismissed in January 1943….
When he stabilized the mark in 1923, Schacht's office was a former charwoman's cupboard. When his secretary, Fraulein Steffeck, was later asked about his work there she described it:
http://en.metapedia.org/wiki/Hjalmar_Schacht
Does Bernanke smoke? Sounds like the previous life of Ben.
Maybe. But Schacht was working to save the Germany economy; Bernanke was working to help the bankers rape the American economy.
Ford, GM, ITT, all had plants in Germany. During the war they all turned out military equipment for the Wehrmacht. ITT owned half of Focke-Wulf Aircraft, producing those FW-190s that shot up those U.S. Eight Air Force bombers. After the war ITT sued the U.S. Government for the damage those bombers caused the Focke-Wulf plants --- AND WON RENUMERATION.
"According to the normally circumspect banker at the time, Hjalmar Schacht: “The Treaty of Versailles is a model of ingenious measures for the economic destruction of Germany.” And so it was."
This is true. And this was also the blue print to strangle Iraq following Gulf War I.
Article was succinct. Short and to the point, blunt, just the way I like it.
5*
So Hitler invented the economic idea to let Jews run your country?
I didn't know that. Sure could have fooled me. What a sneaky guy.
Hitler didn't invent anything. He was a puppet too, just like most "leaders".
The French Revolution taught TPTB that it's preferable to pull the puppets' strings rather than be a visible leader in the guillotine queue.
Hjalmar Schacht, founder of BIS. Friend of Montagu Norman, Harrimans, Thyssens, Prescott Bush, told the financiers of Huttler that "we will have Venice in size of Europe"
After Reichstag fire (not WTC) Enabling Act (Not Patriot act) was quickly pushed and liberties strapped, to enable Drang nach Osten ( not nach Caspian Basin) to ensure Lebensraum (not democracy and energy security)
After few years of war, millions of dead and entire societies collapsed, including Germany, new order was established by winners who, coincidentally were the same as the financiers. (only poor bush had some hasssle with trading with enemy, act...)
And after Fulton speech, new world was established.
Old money in City of London survived, found new young host to run their Empire.
Any question?
One extra note. Churchill's Fulton Iron Curtain Speech the announcement of the new word. Some of the things he said privatly before that were telling. One of my favorite quotes"
On May 8, 1945: "Be sure to stack the rifles of the surrendering German Army carefully as we may have to issue them back again shortly".
Money money money .... Whip. ( eye swirl) whoooooa!
dunh dah dunh danh da......
dunh dah dunh danh da.
Schacht was not the founder of BIS, he was one of four founders.
And the original purpose of BIS, the central bank of all central banks in the US and the EU as well as other nations in the world, was not to rule the world as is its purpose now. “The Bank for International Settlements (BIS) was created on May 17, 1930 to administer or ‘settle’ the World War I reparations imposed on Germany under the Treaty of Versailles,” writes Frank de Varona on emilioichikawa. “There were four very powerful individuals who played a very important role in the founding of BIS: Charles G. Dawes, Owen D. Young, Hjalmar Schacht, and Montagu Norman.”
The most powerful of the four was Jewish banker Montagu Norman who perhaps saw the potential power in BIS. Writes de Varona: “He served as the governor of the Bank of England from 1920 to 1944. During those years he was one of the most influential central bankers of the world. His power was so enormous that a single speech made by Norman could affect the New York Stock Exchange in the United States and other stock exchanges the world. Before and during World War II, Montagu Norman allegiance was to the Bank of International Settlements and not to Great Britain.”
On the contrary, Schacht’s allegiance appears to have been to the German people.
It is worth noting that the original purpose of the BIS, the handling of WWI reparations, failed almost immediately. It was closed by Roosevelt, but immediately reinstated by Truman, at the behest of Allied central bankers and Keynes. It's purpose had become the negotiation of relationships between central banks and their currencies.
Schacht lived on to become, once again, a prosperous private banker based in Düsseldorf. Pre-war he created the Rentenmark which did save the curreny/inflation problem. He was also as close as could be to the leadership during the war, until it became clear to him in late 1942, early 1943 that Hitler and his key police/political team had gone mad. He was held in a concentration camp for the last two years of the war.
Schacht believed strongly in market protection and mercantilism, sensible given that Germany was the world's most advanced industrial nation, much like the US became immediately after the war (as the Rockefellers stocked NYU and Princeton with German mathematicians...).
The enormous problems in the US today seem to stem much more from entrenched-via-legislation cost structures (medical, dental, union, education) joined to government spending and central bank accomodation to the spending that allows the 'system' of legal moats to continue. There is high rigidity in cost structures joined to a pathological willingness to spend other people's money to buy votes. Try facing these.
He he ...you´re funny. Entrenched cost-structures. Like those will ever get payed per agreement?
Let all of them burn in deepest hell, and keep us alone. You multigenerational fuckerz!
http://www.amazon.com/Conjuring-Hitler-Guido-Giacomo-Preparata/dp/074532...
"Very interesting"
Capitalism ---to-->Crony Capitalism---to-->Fascist State
Congressional-Industrial--Military complex was the model for USA Fascist state.
Adolf was an amateur. A useful fool, a useful tool. His volatility and cruelty was his predictable undoing.
If he had simply put the Usurpers to work, he'd have achieved the same strategic goals, w/o the bad press, foreign mobilization and blow-back. He should've stuck to Work Camps, not Death Camps. He simply replaced one kind of cruelty for another: financial cruelty for physical cruelty. What a Simpleton, what a Fool!
Bet ya didn't know that at least part of the reason some 20th century tyrants were so volatile (bipolar), was because they were drug addicts -- albeit their drug usage (daily regimen) was under the supervision of doctors -- Dealers with an MD degree. Both Hitler and Stalin used METH. Research it. To give you a head start, try this link: http://www.amphetamines.com/adolf-hitler.html. You could say that Hitler "broke bad". His "gateway drug" was his hatred of Jews, given his personal experiences and that of his family.
If you know anything about the effect of Meth, you'd realize that it would explain the personality and mental disorder that results. When taken by a leader/tyrant like Hitler, it makes them more predictable and easier to manipulate (i.e. provoke!). But that psychic manipulation (via psychotropic drugs) was too subtle for the Communist or Nazi minds, who preferred overt gestures and usage of raw power. As we all see on our daily doses of TV and movie feedings, blood & violence plays so much better with the dumb-ass sheeple, than does a cerebral movie.
The Old Guard (bankers and aristocratic elite) know how to rule the masses. They are grand-masters of mind-fucks and manipulation, having had centuries of experience in perfecting their craft on the sheep and their dumb, gullible and weak 'shepherds'.
Do not touch Stalin, Dzugashvilli, man of steel.
He is real enigma of 20th. Century.
It seems he was wery well prepared by very powerfull faction to eliminate Jewish bolsheviks from Eurasia.
Russia starts as a peasants country and ended his rule as atomic superpower.
He built unbelievable educational system, transpired in naukograds.
He was then killed by his ( and ours) archenemies - Trotskyites (Neocons)
Forget this commune stuff, focus on results!
I will put it simply as it goes : Stalin was our man !
Now hush hush to study! Bitchez!
Hitler what most people do not know, was a schoolmate of Ludwig Wittgenstein who is known according to wikipedia as an Jewish Austrian-British philosopher. http://en.wikipedia.org/wiki/Ludwig_Wittgenstein
Normally Hitler and Wittgenstein are worlds apart, but here is why they met: Wittgenstein was taught by private tutors at home until he was fourteen years old. Having had no formal schooling, he failed his entrance exam at the academic Gymnasium in Wiener Neustadtand and only barely managed after extra tuition to pass the exam for the more technically oriented K.u.k. Realschule in Linz, a small state school with 300 pupils. And there he met Hitler. According to Wikipedia
Here a picture showing both Hitler and Wittgenstein during their school time at the small state run K+K Realschule in Linz (Austria).
http://www.strangehistory.net/blog/wp-content/uploads/2010/06/lud-and-hi...
The Jewish Wittgensteins were enormously rich second only to Rothschild in the Austro-Hungary empire prior to WWI. Many sources on the net indicate that Hitler and Wittgenstein were friends for some years during their adolescence. It is suspected that they had a homosexual relation which later turned into hate when it ended. It is believed that after the sexual relation with Wittgenstein was discovered and ended by the Wittgenstein familiy the problems for Hitler started. It is believed, that the very influential Wittgenstein family made it hard for Hitler when he tried to get a slot at the Academy of Fine Arts in Vienna.
From the Fine Arts Academy Vienna web page: In 1907 and 1908, young Adolf Hitler, who had come from Linz, was twice denied admission to the drawing class. He stayed in Vienna, subsisting on his orphan allowance, and tried unsuccessfully to continue his profession as an artist. Soon he had withdrawn into poverty and started selling amateur paintings, mostly watercolours, for meagre sustenance until he left Vienna for Munich in May 1913. During the Austrian Anschluss to Nazi Germany from 1938–1945, the academy was forced to heavily reduce its number of Jewish staff. (My comment: For sure the billionaires Wittgensteins had the power to block him from entering the Academy)
So Hitler was dirt poor and his former lover Wittgenstein was extreme rich. Plus the Wittgenstein did not help him, in the opposite. Officially it is said that the reasons for Hitlers extreme hate against the Jewish culture are not known. Hitler did also never saying anything concrete about it. I strongly believe that his homosexual realtion with Wittgenstein is one of the main underlying reason.
Wittgenstein is a very intersting person and if its really true that he and Hitler were lovers then may things fall into place. These two men were both dynamite with enormous potential. To the bad or to the good it just depended on the circumstances of their time of life.
If Hitler was not a monster before he served in WWI (what I do not believe) then for sure he became a monster during the battles he survived. In WWI Hitler became aware that a man or even a thousand man or a hundred thousand man are nothing. They were sent to the death by their military command and their bodies got mangled in a way that friend and foe were often later buried together. If somebody cared at all. The events following WWI and the enormous fortunes made during and after WWI by speculators, often Jews became the final drop to turn Hitler into a merciless, hateful murder machine. It least that is my interpretation how things could have been developed. It would explain his extreme hate.
In my opinion the masss killing of the Jews during the holocaust had similarities with the industrial slaughtering of WWI. The victims were sent into the man eating hell of Verdun and nearly a million lost their life in Verdun. Everyday the railway brought new soldiers close to the front in Verdun by the thousand and in the evening maybe 10% were still alive. Bring in new people from far away with the railways and then they are killed by explosives, gas, bullets. Not so a big difference between Auschwitz and Verdun. Isn't it ?
Interesting.
John Toland in Adolph Hitler volume I surmises that Hitler’s anti-Semitism was heavily inflamed when front line German soldiers (including Adolph Hitler) returned to their home cities after WWI to find them overrun with revolutionary Reds.
Toland: “In truth, Hitler was in a state of ferment and turmoil because of the epidemic of revolution. Never had he been so concerned for the state of his adopted country… ‘Involuntarily I saw thus my own development come to life again before my eyes.’ His simmering hatred of Jews had been activated by what he himself had witnessed on the streets of Munich. Everywhere Jews were in power: first Eisner, then anarchists like Toller, and finally Russian Reds like Levine. In Berlin it had been Rosa Luxemburg; in Budapest Bela Kun, in Moscow Trotsky, Zinoviev and Kamenev. The conspiracy Hitler had previously suspected was turning into reality.”
Here, in a paraphrase of Hitler’s words, are the seeds of his developing anti-Semitism as related by John Toland in his book Adolph Hitler, Volume I, Part 2: In the Beginning Was the Word, 4. Birth of a Party, page 108,” derived from a speech by Hitler during a mass meeting in Munich’s famous Hofbrauhaus, Friday, the thirteenth of August 1920:
“For the first time in public, Hitler charged that the Jewish conspiracy was international and that their advocacy of equality of all peoples and international solidarity was only a scheme to denationalize other races. Previously he had called the Jew despicable, immoral and parasitic; tonight the Jew was a destroyer, a robber, a pest with the power to ‘undermine entire nations.’ Hitler called for an all-out struggle to the death.”
Bolshevik criminality and its growing international influence at that time now is only being made known. But it was known at the time by those who suffered under its power.
For instance, Richard Pipes notes that the short-lived Hungarian Soviet Republic of Bela Kun (Kohn) in 1919 was even more brutal than that of Kurt Eisner, a Berlin Jew who had seized power in Bavaria: “In Hungary, they [the Jews] furnished 95 percent of the leading figures in Bela Kun’s dictatorship [and were] disproportionately represented among the Communists in Germany and Austria and in the apparatus of the Communist International.”
A vignette of this dread dictatorship was given by Vicomte Leon de Poncins in the Secret Powers Behind Revolution:
Tibor Szamuelly, a known Bolshevik and one of Kun’s “Jewish henchmen,” traveled through Hungary in a special train that rumbled through the Hungarian night and where it stopped, men hung from trees, and blood flowed in the streets. Along the railway line one often found naked and mutilated corpses. Szamuelly passed sentence of death in the train and those forced to enter it never related what they had seen. Szamuelly lived in it constantly; thirty Chinese terrorists watched over his safety; special executioners accompanied him. The train was composed of two saloon cars, two first class cars reserved for the terrorists and two third class cars reserved for the victims. In the latter the executions took place. The floors were stained with blood. The corpses were thrown from the windows while Szamuelly sat at his dainty little writing table, in the saloon car upholstered in pink silk and ornamented with mirrors. A single gesture of his hand dealt out life or death.”
Time Magazine wrote on May 7, 1928: “To this day Hungarian nursery maids frighten their charges into ‘being good’ with the dread name of onetime Dictator Kun.”
http://www.time.com/time/magazine/article/0,9171,785907,00.html
Also very interesting. That Jews were leading figures in communism is a well documented fact. Therefore there is no doubt that they took part in the mass killings and terror actions during Lenins and Stalins reign.
Supermax, you write well and present some very believable material. I do hope, one day, to read an accurate history of pre-war and post-war Germany, mainly because so many lies have been told since then.
The truth should come out on all sides. The British are guilty of some bestial acts, a few of which I have anecdotal knowledge.
War is Hell, and the simpletons led into it should be aware of where they're heading. Stay on it SMax.
There are many who do not know they are fascists but will find it out when the time comes -- Ernest Hemingway
and i swear that I don't have a gun.
no wait that was Kurt...
wait a minute.
I never knew he said that. But I agree with him 100%.
Hemmingway was a communist who was on the side of the communists in the spanish civil war.
According to communists everyone who's not on their side is either a capitalist or a fascist which to them means the same.
Which just goes to show that the Left has spent a very long time fighting and squabbling for supremacy among its own factions. Nothing changes. In the UK today, the Labour Party and Lib Dem Party spend a lot of time doing this even though they are both socialist parties.
With Fascism having so many common features to Communism, supported by the same jewish bankers, same industrialists and largely using the same oppressive techniques, you have to wonder why it is that since 1945, MSM, political journalists and commentators all describe Fascism as on the "Far Right".
Never been a right wing facsist... 'cept for maybe Franco in Espana. Plenty of left wing facsists however. That why one shoudl either ignore LSM or just punch them in the face every time you see one on the street.
Mussolini was a far right fascist, as was the Romanian leader at the same time.
Hirohito is also seen as a far right fascist too, although his belief that he was a divine god muddies that comparison a bit.
By his own admission, Musso was a lifelong socialist.
He is only described as a far right fascist by people on the Left with an agenda to distance themselves from their like-minded bedfellows.
There is not such thing as a "far right" fascist.
A fascist is closer to socialist than capitalist.
Intentionally dumbed down populace ?
Thank you for that link.
Along with some other well-researched essays/books I've read over the yaers, I would class that Forbes article as "essential reading" for anybody who wants to understand the true nature of fascism, where it comes from and where it sits on the political spectrum.
I have long believed that mass disinformation about fascism emanated from Left-wing intellectuals and educationalists after WWII because fascism had an irrepairable bad name due to Hitler/Mussolini. The last thing these peddlers of lies wanted was for fascism to be identified correctly as a Left-wing ideology, only one jackboot & goosestep away from themselves. So began the great lie of calling fascism a Right-wing or Conservative ideology. A whole industry of Left-wing educationalists and pressure groups has emerged over the years to keep this lie in place. I know of no MSM political journalist who has the guts to correctly identify fascism for what it is. None exist in the BBC.
Only one faction of Communism is supported by Jewish bankers - international communism - Trotskyism ( neoliberalism, neoconservatives)
Their goal is global dominance.
On the other side is national socialism ( commune -ism - common good) driven by needs of the nation, not by international capital ( london)
They call it nazism, or Stalinism or pardon me, American constitualism, something what JFK as a American patriot was pursuing.
But was stopped by globalists.
Alexander Dugin - If you are Globalist. You are our enemy.
The jews are not the droids you are looking for. It is really another group of religious nuts. Take a look at Google maps, satellite view, of Washinton DC and find the Owl. Then go find out who thinks the Owl can see all in the non-illuminated world. Not to say there are not jews in league with the owl worshipers - there are. They suck too.
The OWL perhaps represents Jewish King Solomon.
They call it far right since they have a simple linear concept of the world and want to be as far away as they can from it since it embarasses them.
Alois Hitler, father of Adolf, was the illegitimate son of Maria Anna Schicklgruber and Baron Rothschild. And we all know the Rothschild's are alive and well...
Was Adolph's grandfather proud of him?
Close, but not quite correct. His paternal grandmother Maria Anna Schicklgruber worked as a maid for a wealthy Jewish family (Leopold Frankenberger of Graz, Austria). It was during her employment there that she got pregnant and was fired when her pregnancy became evident. The father was rumored to be the master or his 19 y.o. son.
See these links for reference:
http://history1900s.about.com/od/Hitleradolf/a/Hitlerancestry.htm
http://www.geni.com/people/Maria-Schicklgruber/6000000008260175163
http://history1900s.about.com/od/Hitleradolf/a/Hitlerancestry.htm
http://partners.nytimes.com/books/first/r/rosenbaum-hitler.html
It was AH's father Alois-- the illegitimate son of Maria Schicklgriber (and possibly half-Jew) -- who beat him regularly. He was thus close to his mother Klara. The (Catholic) Church clearly was little to no help to Maria and her son Alois, nor to Alois's' son Adolf either. Hence it is not surprising that he had NO problem with gassing as many (if not more) Catholics than Jews -- judging by the analysis of the death camp records.
AH potentially being 1/4 Jewish (and the sad circumstances) certainly adds fuel to the fire of his hatred of them.
"Sins of the fathers..." comes to mind.
"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."
This is partial correct. But mounting currency inflation is not correct. The opposite is true because Hitler hated the banking system. But something very important is forgotten. Which group of the population benefitted most from this system ? The bankers ?, No; the producing industry and farmers, Yes because they had to provide the jobs; but most of all it was the consumers who benefitted most. There existed harsh laws to bring price transperancy for the consumers so that he can easily compare the price of a specific good without beeing fooled by sales actions based on "moon prices". These laws improved drastically the position of the consumers. The results of these Hitler laws can still be obsereved in Germany. Germany is the toughest market for consumer goods and food. Even Walmart did not make a profit in Germany and left Germany after a few years of burning money.
During the time of Hitler modern health care for the broad population was introduced. The system is more or less still in place in Germany today, free hospitals, free doctors, free medicine, free protheses, glasses, dental care even free spa treatment was introduced to maintain the workpower of the workforce. Schools free, Universities free, apprentices received a small money instead of paying for the apprenticeship position.
No doubt, some of Schachts (Hitlers) ideas and programmes sticked because the Germans liked it. After the war the Germans did not settle for lesser. They wanted to have this economic system again because it had improved their lifes
The so called Wirtschaftswunder as well as the present boom in Germany has roots in the ground prepared by Hitler. The German economic system is called "Soziale Marktwirtschaft" (Social Market economy). And this was developed from what the article calls "Schachtism". But so what. Important is that it functions and that society is accepting it. The fact that Hitler was a driving force behind this is not of practical interest. Important is that one gets his teeth properly repared when he has problems and that he has not to worry about the costs for a basic fix of his health. Important is that you get an operation when you need it whether you have a money or not. etc.
Germans of today give a shit for Hitler but they like their Soziale Marktwirtschaft.
And not just a free chest X-Ray once a year, but a mandatory one. Hitler's War on Cancer makes an interesting read. He also lost his War on Smoking by the way.
I'm a big fan of Optimator beer...could you please change your handle so I don't associate Moron with Optimator?
Of course, I can always switch to Death by Taxes of Xingu...but I hate a brand being ruined like you are doing.
Supermaxed, a good post but missing something. I lived in Germany for a short time and had many German and Dutch friends in high school quite a few of whom returned to Germany for what they believed might be a better life.
All returned with virtually the same message. They coud not live under the rigid social structure that exists there. Each had a different story but the message was the same: they all prefered the social mobility and freedom that thrives here.
It is the potential loss of this freedom ZH'ers fear is coming and the root of the unrest we see in post after post on ZH. From my experience I fully agree.
I understand your position. It was tough to be outside of the herd in Germany but its easy possible nowadays. But one thing is clear, life is no fun in Germany. But at least there exist rules which are in most cases observed.
Social mobility is a way of life in Germany. Former Chancellor Gerhard Schroeder wrote in his biography: We were the antisocial! . Despite that his mother was a widow and a poor cleaning woman he became Chancellor of Germany. Or Helmut Kohl came also from a rather simple family.
However it is clear, that there are huge cultural differences between the different countries of the Eurozone. And this is a good thing. Let the Germans work and the Greeks enjoy their life. Then everybody is happy. Every five years the roles are changed, that would be a good deal.
believe it or not, America has been a Fascist nation for a long time. that people didn't realize it til now is the real shame. "once born and spread, you can' t kill an idea."
But you are omissing the key issue.
It is really about Atlanticissts (anglo saxons) vs. Eurasianists (germans, some french and russians)
Then you have Eurassian Bormann with Ribbentropp signing deal with Molotov / Stalin (Eurasians) - just to be attacked from German Generalstab (Canaris in work with Atlantists) against Stalin, when Trotskyites (atlantists) sabotaged the defense even after bloody purges in 30s in USSR (purge of Trotskyites- antlantists- agents of London)
Then Huttler with his panEuropean and racist ideas was pushed by atlantists against Eurasia. But lost.
Now we continue.
Who will, read Alexander Dugin.
Recently there was a news story that German-Americans are the largest ethnic group in the United States.
More than English, Scots, and Irish.
If Hitler's economic policies were so bad, then why was Germany booming whilst the rest of the world was mired in the Great Depression??
Tyler, you REALLY need to up the difficulty of the captcha to get on this site. WTF
Yes, what we all need, dexter, is more man sized closets to store our wrong ideas from the unwecome challenges reality might bring.
dexter, that you want is nearly what you are getting today in this crappy 2014 corporate media bullshit. Unchallenged idiocy, false depictions of the "wonders" of capitlaism and sidelining of what should be the MASSIVE failures of the market economy.
Germany booming had nothing to do with Hitler but German tribal characteristics, smart and work hard, besides Germany wasn't booming they were running out of money, territory, fuel, water, food and raw materials.
They were booming in a giant Socialist circle jerk.
To Germany "free trade" was "trade on our terms, or we kill you & take your shit", pretty much the same as our terms today, look what we're doing to Ukraine on behalf of German trade demands http://www.rawstory.com/rs/2014/01/15/senate-committee-debates-visa-bans...
as if Ukraine wasn't ruled by a democratically elected govt but a fascist military dictatorship like Kuwait or Saudi Arabia-our co-partners in Syria.
Why does Ukraine have to join a trade currency cartel with Socialist state subsidized Germany to have trade and tourism with the rest of the EU?
Why does "free trade" have to include "trade cartel"?
What is the EU afraid of?
Why aren't the Ukraine EU advocates asking about EU exit terms?
Sounds like you have come up with great reasons for why you can't learn from historical examples.
And that is why you lot here at ZH subscribe so heavily to the bullshit Utopian ideals of Libertarianism...well, and it also serves to make you feel like you're one of the "good guys" when you go about cheating on your taxes and voting to defund your neighbor's kids educations.
Your blinders keep you from seeing the ruin that ALWAYS accompanies a true capitalist system and you refuse to accept the obvious truth:
Socialism must ALWAYS rescue Capitalism. Without this, wages fall to the absolute minimum and the economy stalls. EVERYTIME.
(US National) Socialism: "Change we can believe in!"
Mindless Slogan without a stated argument = ZH moron
Inability to make logical inferences and draw obvious analogies = Anywhere moron.
UKRAINE CONTROLS BITCOIN WHY?
One man in UKRAINE controls over 70% of the worlds MINING-POOLS.
We know that BITCOIN is NSA/CIA, but why give the key's to the car to a Ukranian?
My opinion is that Ukraine NOT JOIN-ING the EURO is an achilles heal for the NWO (BUSH/HITLER), what better way to upset the hold gaurd that doesn't want the EURO than to make UKRANIAN's "THINK" that they rule the world and control BITCOIN, the NEW NAZI CURRENCY?
The truth of course is that once UKRAINE goes over to the EURO, the NSA will pull the plug on BITCOIN. Job done.
***
The actual 'plan' for the EURO goes back to HITLER that was Hitler's objective all along, .. funny Germany lost WWII, but HITLER&BUSH WON
Lew Rockwell is one of those tools of fascism, always giving the appearance of objectivity but never really getting close and instead focusing on the munitae of various problems misdirecting the public away from the big picture, mass ongoing multi million alien SOCIALIST criminal invasion.
Our immigration policies are growing our unfunded liabilities 5-7 trillion dollars a year (on top of whatever annual deficit we run).
The worst part is it's all "state" funded.
Please get your understanding of "socialism" in shape. Its the same as "capitalism" ie you speaking bullshit.
Socialism in good old Czechoslovakia in 80s was a paradise. Free schools including Universities, depend only on your test score, you could study whatever you wanted, if you were good, learning hard and prepared. Nothing to do with politics, my parents we not in KP. I studied Biochemistry.
Then, free advanced healthcare from age 0, family was supported. Cheap food and living, housing subsidy. Culture, sports, free time. People from factories were regularly home at 15.00 afternoon. (6-14 shift).
No taxes for men with family!
No drugs! I knew one narco-man till my 20s and this poor guy ( son of apparatchik) snuffed and drunk, in high school. They let him go through, as proffessors feel sorry for him and his family. ( he drank himself anyway)
No crime! 5-10 homicides/ 15 million / year. Usually family issues.
Advanced industry- optics, biology( our own cis-platin for cancer cure) nuclear energy, large industrials... If you were smart, you could be whatever you wanted... There was ...lack of people! For managerial positions!
But capitalism had better PR, then came 1989 ....
You nailed it Karl!
But you are wasting your breath on these ZH morons with their unexamined ideas and Zombie ideologies.
Thx. But this will be long psycho - battle. :)
But to me it seems funny, I lived there.
Feel sorry for the blind.
There were even more juicy stuff like: homes were not closed, they were open, so anybody can come in and wait for the owner ( usually they check the house and make cofee for the owner, when he arrives)
Teachers were gods, if a kid had problem with the teacher, it was serious. Teacher sat down with family and explain situation, that pupil will have better chances got better school/ position.
We didn had homos.
Every kid had at least 2 sports+ music + 2-3 hours work on family "farm"( chicken, field, garden, piggies, etc...)
Everybody had alots of fun. No drugs, teevee. Bad music. Nothing. Some had to go for catholic mass on wendesday ( baaaad cooomuniiists!)
So we cant play.
Tue and thu was footbal training, sat and sun were matches. That was all village show, everybody wanted to see his young playing.
Paradise.
Other than the homophobia, you are presenting a helpful perspective. Thanks.
Since i was 5, starting going out alone, I was never touched by anybody, naturally protected by guys age 6-7. Nobody could touch me, even hurt me. That was something. Purely natural. i did the same for the young boys. Nobody touched me until my 19 if ididnt wanted. So was the rule. Nobody gets hurt. Unbelievable today.
We just play, hard. After the game we went home. Our parents were equal
That was socialism.
beauty.
You can now imagine the girls. They loved us! Seriously!
.
http://www.infowars.com/think-tank-extraordinary-crisis-needed-to-preser...
Be prepared....like the boy scouts of old. New scouts will be too busy dealing with the additional pedophiles to be 'prepared', but that's how it goes.
Please see Obummer/Hister's current example of forcing something into something to innovate something there is no demand for such as innovation for the sake of...
http://www.wral.com/news/video/13299523/
I the great King demand innovation by fiat....what a joke.
Read to understand:
http://www.counter-currents.com/2012/07/interview-with-alexander-dugin/
There are many versions of "capitalism" as many versions of "socialism"
Really this means nothing, just propaganda. Socialism is future of mankind as many activities must be shared. On private and good-will principles ( as in pure capitalism - they who own capital) to eliminate parasitic class and ensure development of human society ( from cro-magnon to universities)
All we hear now is lot of bullshit from owners of BiG False Backed-by-lies-and-murder Capital (IOUs), who wants to be unchecked Gods in the future world of genetic manipulations (longevity) and interstellar travel, where is no place for individuals like you and me.
"There are many versions of "capitalism" as many versions of "socialism""
Agreed. But the two ideologies are worlds apart.
"Socialism is future of mankind"
I agree this is how it seems today as most governments are going down that road. But it doesn't have to be that way.
It is so much fun to talk about schacht and nazi's that a serious comment must go down like a fart at the bilderberg women's archery contest (i need not go into the ideological grounds for disapproval). But pelmet skirts are best lifted by a blast of wind than a thinly veiled maternity dress by a piece of shit pimp - meaning that schacht was an economist and all the serious wars and re-armaments are funded within the framework of money. it matters not the flavour of the political tribe in question - the genius of shicht was just the tip of the iceberg it was just that he got caught and given a tap on the wrist, what else explain self defeating political actions of today? must be someone behind for whom those actions are desirable. But whom could relish nuclear fission as fuel source seriously today? this suggests the true greatness of the human race is yet to come
there is a growing belief that Hitler did not die in a bunker as taught but escaped to Argentina in a U-Boat along with other high officials of the Nazi regime. No dna was ever produced that proved they found him and the bone fragments were proven to be that of a women not related to Eva Braun.
OMG, this means Bath House is some sort of suntanned clone of Adolf.
No wonder things are looking so nazsty around here.
Mussolini is quoted as saying "Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power." Both his and Rockwell's definitions leave out a key issue: whose state is it?
This article makes it sound like the Federal Government is out-of-control power-mad civil servants out to seize full control over the corporations. If you listen to Obama's speeches you might get confused. However if you look at who funds the candidate, who gets appointed to Presidential Cabinets and who gets bailed out, it's clear where the real power lies - and which way this power grab is cutting.
I'm not so sure the power equation matters considering the revolving door between the corporate/lobby world and the political positions of power.
"whose state is it"
There has never been any confusion about that. It is the government machine under total control by the political elites and their countless agencies. Under fascism, just like communism, The State rules supreme. The people subjugate theselves to it or suffer the consequences.
ser gut!
This is more blather and idiocy from the dolts of the Mises Institute. So now they want to play historian with incompetent analysis and a failure to understands the univerals of a WAR ECONOMY. Context is missing entirely...gee, what a surprise! Not!
Typical.
No one is buying Mises policy recomendations (AUSTERITY) any longer as these have proven a sure path to economic collapse...err, well, no one except those idiot Irish. So I guess they have to peddle SOMETHING? Anything?
I hate Mises to Pieces! You morons at ZH should too...though, of course, that is WHY you are morons in the first place,I guess.
Here you go...Make you feel right at home.
http://www.cpusa.org/
The need for austerity emerged from the long bloated credit/debt bubble which is both unsustainable and unrepayable.
If you say austerity isn't working - to which my response would be that it isn't even happening - what would you advocate doing? Borrowing, printing and spending your way out of debt??
In truth, that is largely what the political elites are doing. That is why it isn't working.
Smacker, the debt bubble is a product of insufficient taxation = too little revenue.
The national debt is the product of the Laffer Curve Ideology (the false idea that lower taxes increases the GDP and thus increased total revenue) /Reaganomics combined with massive military spending. The Successive Democrat and Republican corporatist presidents and Congressional folks have embraced this failed policy because...
...morons at ZH and other venues cannot distinguish reality from ideology.
But you say austerity is not being tried and I would agree to this extent: QE at $85billion (now 75) per month for YEARS along withbank bailouts in a attempt to create TRICKLE DOWN GDP GROWTH/JOBS DOES NOT WORK.
Fiscal stimulus money (taxed from those who have the wealth) that is then pumped directly into the hands of consumers has proven to create REAL prosperity time and time again...but the oligarchs don't want this (of course).
So what you are calling spending is really welfare to the wealthiest. And you are right that that does not work and never has.
You cannot have an economy where the consumer/workers are broke. Yet we keep expecting magical things to happen by shifting the cost of society onto the worker-consumers and off of the fat and lazy corporate oligarchs.
"...the debt bubble is a product of insufficient taxation = too little revenue."
ROTFL. Obviously, you don't think it's caused by government spending too much.
hitler was put in power by wall street and london banksters with names like harriman, dupont, rockefeller, ford, bush, and other jew hating slime....in any event keynes was one of their darling puppets who helped indirectly justify central planning, the type of which they implemented in germany, ussr, china, and america....it is all genetically identifiable dna of the wall street / london nazi banksers...adolph was a red herring - as wicked as he was...the puppet masters were located in rockefeller center, standard oil of nj headquarter, ig farben, just to name a few...
Wrong to tony. Total BS. Press I say yes
"No Rothschild is English... No Baruch, Morgenthau, Cohen, Lehman, Warburg, Kuhn, Kahn, Schiff, Sieff or Solomon was ever born Anglo-Saxon.
And it is for this filth that you fight. It is for this filth that you murdered your Empire. It is this filth that elects, selects, your politicians." ~ Ezra Pound, March 15, 1942 radio broadcast
Gerald Celente called this a long time ago
For more interesting reading on the subject:
http://www.scribd.com/doc/22683864/Wall-Street-and-the-Rise-of-Hitler
In 1931 he recruited Hjalmar Schacht to the cause and in November, ..... 20th century that the Bush-Rockefeller-Harriman-Dillion relationship ...
***
Because this guy SCHACHT was the go between HITLER and the USA to engineer the "NEW WORLD ORDER"
Germans Lost WWII, NAZIS WON
BUSH? Yes same BUSH family
Rockefeller? UN, IMF, Hillary Rodham, Bill Clinton? Yep
***
If you want to understand USA economics 2014, then YES you must study the real history of HOW the USA came to rule the World.
“I think it is absolutely tragic, it is shameful, it is sinful that Western Civilization is going to go down the drain… I am extremely skeptical now that it can be saved. I think we’re just about finished.” – Georgetown University Professor Carroll Quigley, Tragedy and Hope (1966). Interview in 1974 with Washington Post reporter. Consultant to U.S. Department of Defense, U.S. Navy.
***
Carroll Quigley was chief historian to the CIA
***
What does this have to do with the Fourth Reich? Or for that matter, the “so-called” Third Reich? Where on earth would its headquarters be? Adolf Hitler gave the Third Reich a face, but the financiers of the “so-called” Third Reich and Fourth Reich are about the same. Where in all this and the smoke plumes covering the Middle East, why for the sake of your peoples and national sovereignty, leave the European Union and euro, if sovereignty is what you value.
***
Back in 1926, Dr. Hjalmar Schacht, Hitler’s financial genius and co-founder of the Bank for International Settlements, called this their “Pan-Europe Union” (“Schacht endorses Pan-Europe Union.” New York Times, Oct. 29, 1926). With the “most important banker of the century” they protected from prosecution for war crimes – director of Deutsche Bank that financed the Nazi concentration camp at Auschwitz – the New York-London financiers with Paul Volcker, former Federal Reserve Bank chairman and vice president of the Rockefellers’ Chase Manhattan Bank (now J.P. Morgan Chase), would bring to fruition the European Union with covert operations funded by their Ford and Rockefeller foundations… as its founders collaborated with the Nazis. How would “most important banker of the century,” Volcker and company induce the unsuspecting public into financing the “so-called” Fourth Reich? Who would lead them in the ways of market intervention and projection of a “strong dollar” policy? Perhaps the London Gold Pool? The same “most important banker of the century” who would push Great Britain into the European Union.
The BIS was Created by Schacht - Just another reason ZH should show BIS some RESPECT.
Bank of England Governor Montagu Norman co-founded the Bank for International Settlements with close friend Hjalmar Schacht (“Lord Norman…” L.A. Times, Feb. 4, 1950), though behind Governor Norman were the private bankers who built him up to a position where others would regard him as an “oracle” (Quigley, p.325). The BIS was founded on May 20, 1930 by seven banking institutions, the ‘American’ ones being First National Bank of New York (now Citigroup), and J.P. Morgan & Co. and First National Bank of Chicago (both now J.P. Morgan Chase), all J.P Morgan-controlled interests. Morgan “operated as if it were in London” (Quigley, Carroll. 1975 edition GSG pub., p. 327) being central to the New York and London partnership as Montagu Norman rarely acted in major world problems without consulting Morgan representatives (Quigley, 62). After Germany’s surrender, Bank of England Governor Norman dispatched his man to pick up the “most important banker of the century” – Deutsche Bank’s financier of Third Reich industrial war expansion – as they would round up post-war nations into the European Union. Consider why.]
During the Nazi period, Hjalmar Schacht was president of the Third Reich’s Reichsbank. Schacht served as a key link between Wall Street and Hitler’s inner circle. Schacht’s father worked at the Equitable Trust Company of New York which was controlled by J.P. Morgan (Sutton, Antony. 1976. Wall Street and the Rise of Hitler, p. 17). That family tradition continued in 1930 when Hjalmar Schacht delivered a lecture at the University of Chicago (J.D. Rockefeller founded) as son, Jens Schacht, entered the banking business at the First National Bank of Chicago (“Dr. Schacht Here Today; Son….” Chicago Daily Tribune, Oct. 26, 1930), a J.P. Morgan-controlled interest that itself was called the “daughter” investment house of the Rothschilds in London (“Great Financial Houses.” The [London] Times Nov. 8, 1927). Schacht often visited the United States where he “has many friends and admirers.” (“Schacht 60 Today. Germans Hail Him.” NYT, Jan. 21, 1937).
Schacht was first and foremost a German nationalist - a citizen, as opposed to today's definition of "consumer". Interestingly, his version of nationalism was not a vision of conquest, but one of doing what is best for the people (citizens) of Germany. His great skill was that of an economist - a person who pragmatically understood the interrelationships between the fallicies of the market, the intricacies of monetary banking and the weaknesses to be found in common citizens. He strove to get Germany back on its feet and to rid its people of excessive war reparations - similar to the quest of many ZH'ers to rid our current world of oppressive debt regimes (there is no meaningful difference between debt loads driven by manipulated interest rates and war reparations driven by victorious dictate). Schacht truly wanted to do what was best for German people. The Rentenmark was a very clever sleight of hand, which Schacht correctly calculated would work long enough for the monetary system to stabilize enough to give the economy a chance at revival (how was anyone going to collect that 3% if the RM fell over is a great question). He was courted by the Nazis, but he never bought into their drivel. When he did not like what he saw, he made waves and was relieved of duty. The guy was authoritarian - sure - but that is the only approach that would have achieved any results in those times. He did not try to turn himself into a celebrity, while turning around the German economy he slept in a small room formerly used for janitorial services, and controlled the money supply by taking the printing plates "home" each night and sleeping with them under his mattress. He was very skilled and did what he truly believed was best for the people of his country (as a collective rather than trying to cater to individual narcissism).
If we had people like Schacht in power today, then we would have a very different world - no QE, a focus on creating an economic climate that incented productive work, no fancy grandstanding, strong support for savers (he had to support savers, if only to deal with the war reparations) and a belief that only strong nations can make a global community work (nation before globalism and not the other way around). It would be interesting to see how he would have dealt with the bankers today (they probably would have had him eliminated - just as the financial and industrial interests in Germany worked with Hitler to get rid of him in 1939 - thank you for getting the economy somewhat restabilized; now get out of our way and let us continue our plundering of it)
Schacht was not a miracle worker. The German economy was running out of money, and was eventually refinanced through the plundering of neighbouring nations. Had the Germans not gone to war, they would have either had to remove the bankers and major industrialists from the trough (good luck with that one) or the nation would have reverted back to where it was economically in the early 20's. He was nowhere near perfect, and most likely the world might have turned out better had he not put the German economy on its feet (72 hours is still quite record - not sure if anyone has done better since). But for all his weaknesses, Schacht has the "right stuff" for the job of monetarily front running the economy for the betterment of the public country, as opposed to its private interests.
We have nobody even close to being like him today - truly Schacht (ist) Mat
Nobody in the known ZH universe can write such long paragraphs except Radical Marijuana?
Arbeit macht frei!
Under Obamunism:
Keine Arbeit Macht Frei
Schacht and his family were paperclipped to Houston where some were involved in the JFK hit and his grandson was the doctor at Jonestown. Evil to the bitter end.
"In every country that Hitler invaded the local banks were forced to exchange Reich IOU's for the local currency, e.g. the French franc. German soldiers then bought up everything they could with the local currency and sent it home to momma. Ergo shortages in the local economy and surpluses in Germany. Add that to the initial plunder and things were pretty damn good for the Nazis."
Euro and Merkel?
Sound like a copycat
The good news here is that now Israel treats Gaza like 'palestinians', the USA treats its people like 'palestinians', and soon the EU will treat its citizens like Palestinians.
*** Thank You Goldman Sachs ... your tentacles are everywhere
Goldman Sachs led banking syndicate in $10 million loan to Krupp, the German manufacturer of arms but bankers deny the loan is for the manufacture of arms. (“Offer $10,000,000 Krupp Notes Here.” NYT, Dec. 28, 1924). Documents after the war confirmed Krupp and I.G. Farben ( Maker of Poison Gas ) formed the “backbone” of the Nazi Germany war machine. (“Farben & Krupp Trusts Formed Backbone of Nazi…” Washington Post, July 29, 1948)
Bill Clintons REAL Father, Winthrop Rockefeller was also a famous during WWII ...
Even though the Rockefeller and BUSH family's were financing Hitler's war, and supplying Hitler's submarines with the FUEL, the MSM was reporting that the Rockefeller Family was sending "BLUE BLOOD" to Europe.
On the humanitarian side of Reich finance, Winthrop Rockefeller, son of John D. Rockefeller II/Jr., made news by donating some “blue” blood (“Rockefeller’s Son Donates Blood…” L.A. Times, Nov. 20, 1940) to help with the bloodletting of millions in Europe. His uncle, Winthrop Aldrich, John D. Rockefeller Jr.’s brother in law, was president of the National War Fund and appointed Prescott S. Bush (father of 41st, 43rd U.S. Presidents Bush), director of Union Banking Corporation that channeled funds for the Nazis and a partner in Brown Brothers Harriman & Co. with Percy Rockefeller, to be campaign finance chairman to raise funds for war-related causes (“Bush Campaign Chairman….” Christian Science Monitor, April 12, 1943). Prescott Bush was also chairman of the USO to boost U.S. troop morale.
The Versailles treaties pushed Germany's back too the wall. Hjalmar Schacht was the Guy, who had the clever ideas to cope with this awful situation. Hitler or no-Hitler his ideas were clever. Schacht was by the way the only 3rd Reich leader, who deared to critizise Hitlers antisemite policy openly (the famous Königsberg speach) without being dismissed immediately. Credit was given to him for this courage in his trial by the Allies after the war.
europe was remodelled on the united states after World War II.
it is not modelled on the thoughts of any european, neither is any country in europe modelled on any european ideology.
the US reconstructed the economic processes of Europe and left the ineffectual and unimportant cultures of european cultures intact (unimportant) and enforced democratic processes modelled on the USA.
to think that europe has had control of its own economies since it self-destructed in World War II is to grasp at straws. The US either conquered its enemies in Europe or mortgaged its allies to the hilt (since they would have lost the War otherwise) and were broke.
the US then continued its dominance of Europe with its progress in economics and finance...always borrow, never repay anything until you go bankrupt. remember the heart of the american model is limitless availability of credit to banks that on-lend at margin to borrowers of various qualities.
there is a new model growing within europe, which says, you cannot borrow what you cant repay. it is being bad mouthed as austerity as the new model migrates from the old, unsustainable path and levdel of debt, to the new model.
the US is going that way also.
both are looking to rescue whatever ca be salvaged, either via bankruptcy laws, or debt restructuring with a transfer of capital from the tax payer over decades.
the tax payer is on the hook because the tax payer owns the governments, not the other way round. the tax payer is responsible for the actions of his government and the repayment or resturcturing of debt.
governments who don't "get this" are being thrown out of government, globally. tax payers are demanding that politicians stop behaving like drunken sailors are start living within their (sober) means.
check this out, seems like a reasonable though imperfect summary http://en.wikipedia.org/wiki/Marshall_Plan
Don't forget that Hitler was a Socialist as well as a Fascist. (Google George Reisman at mises.org).
What is the differential diagnosis between socialism and fascism? Fascism realizes that private companies are much better at producing goods and services than nationalized companies.
However, we need to distinguish between fascism and crony capitalism. In the former, government controls private business; in the latter, private business controls government.
"Its the Swiss, they've got their dirty little fingers in everything."
http://www.youtube.com/watch?v=WXaXnAvEpB8
Hmmm ... Rentenmark (RM) and Radical Marijuana (RM) carry the same intials .... interesting ... has he really been around that long ...
Banking With Hitler (Full Length) British
http://www.youtube.com/watch?v=veQfroRUWdM
(Only German) Horace Greeley Hjalmar Schacht
http://www.youtube.com/watch?v=AmC_G2imymQ
Where is the rest of this article. I see a introduction and nothing else really.
Well, Schacht did solve the depression in Germany by providing extra liquidity to the real economy (public works and rearmament) instead of bailing out banks.
here's the real story about Hitler's Finances.
http://realcurrencies.wordpress.com/2013/09/16/hitlers-finances-and-the-...