Hitler's Banker
By the beginning of 1935, rearmament was in full swing. The year also saw Schacht’s disagreement with the Nazi party widened, especially on how the Jews should be treated. Nazi Germany had problem in housing and feeding these Jews who were still in Germany’s boundary.
Schacht thought out an ingenious way: Set up a trust, which would be run by an international committee and some Jews, to float twenty-five maturity bonds at five per cent with dividends denominated in dollar.
Jews all over the world were expected to buy these bonds. Part of the dividends would be used to help German Jews to emigrate and part for German export. Unfortunately, Hitler later aborted this suggestion.
By 1936 onwards, Hitler started curbing Schacht’s power. This infuriated Schacht and he tendered his resignation in 1937. That spelled the end of Schacht’s influence in Nazi Germany.
Later, during the failed attempt to assassinate Hitler, Schacht was implicated because he knew one of the accomplices. Although there were not sufficient reasons to indict him, Schacht was imprisoned for ten months in Nazi’s prisons which followed by another seventeen months by the Allies after the defeat of Germany.
Schacht, in my opinion, was one of the luckier people when compared to the tragic figure Erwin Rommel. His hope for a stronger Germany was for peace, not war. If he had erred, it was on the side of patriotism for his fatherland.
Leo Kee Chye
I know very little about World War II.
Could you provide more information on Schacht and Erwin Rommel?
Perhaps, some links?
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"Money" has no value - people do.
I’ve often thought of writing a blog post on Hjalmar Schact and how he operated. He wanted the Reichsbank to be set up like the U.S. Federal Reserve. Initially he supported the Nazis because international Jewish bankers had devastated Germany during and after World War I. After Schact got into power, he started bringing in his Jewish friends, which Hitler did not approve of. After the war, British Jews who controlled England (through the banks) brought Schact to England as a consultant. Books about Schact's life usually leave out critical parts that expose Jewish villainy.
John Weitz, the German Jew who wrote the book “Hitler’s Banker,” considers Schact a “complex figure.”
That is, Schact was a staunch friend of Zionists, but he also wanted to stabilize Germany.
Jews, of course, wanted Germany to be enslaved by the Bolsheviks.