How Hitler Tackled
Unemployment and Revived Germany's Economy
To deal with
the massive unemployment and economic paralysis of the Great Depression, both the Rooseveltgovernment in the US and Hitler's
government in Germany launched innovative and ambitious programs. Although Roosevelt's "New Deal" programs helped
only marginally, the Third Reich's much more focused and comprehensive policies proved remarkably successful. Within three
years unemployment was banished and Germany's economy was booming. This remarkable achievement is little known and rarely
acknowledged. Runtime: 35:38 mins.
Click on this text to listen to: Hitler vs the Elite Cabal of International Bankers...
How Hitler Defied the BankerS
MANY PEOPLE take joy in saying Wall Street and Jewish bankers
“financed Hitler.” There is plenty of documented evidence that Wall Street and Jewish bankers did indeed help
finance Hitler at first, partly because it allowed the bankers to get rich (as I will describe below) and partly in order
to control Stalin. However, when Germany broke free from the bankers, the bankers declared a world war against Germany.
When we look at all the facts, the charge that “Jews financed Hitler” becomes
irrelevant. Los Angeles Attorney Ellen Brown discusses this topic in her book Web Of Debt.
When Hitler came to power, Germany was hopelessly broke. The Treaty of Versailles had
imposed crushing reparations on the German people, demanding that Germans repay every nation’s costs of the war. These
costs totaled three times the value of all the property in Germany.
Private currency speculators caused the German mark to plummet, precipitating one of
the worst runaway inflations in modern times. A wheelbarrow full of 100 billion-mark banknotes could not buy a loaf of bread.
The national treasury was empty. Countless homes and farms were lost to speculators and to private (Jewish controlled)
banks. Germans lived in hovels. They were starving.
like this had ever happened before — the total destruction of the national currency, plus the wiping out of people’s
savings and businesses. On top of this came a global depression. Germany had no choice but to succumb to debt slavery under
international (mainly Jewish) bankers until 1933, when the National Socialists came to power. At that point the German government
thwarted the international banking cartels by issuing its own money. World Jewry responded by declaring a global boycott
Hitler began a national credit
program by devising a plan of public works that included flood control, repair of public buildings and private residences,
and construction of new roads, bridges, canals, and port facilities. All these were paid for with money that no longer came
from the private international bankers.
The projected cost of these various programs was fixed at one billion
units of the national currency. To pay for this, the German government (not the international bankers) issued bills of exchange,
called Labor Treasury Certificates. In this way the National Socialists put millions of people to work, and paid them with
Under the National Socialists,
Germany’s money wasn’t backed by gold (which was owned by the international bankers). It was essentially a receipt
for labor and materials delivered to the government. Hitler said, “For every mark issued, we required the equivalent
of a mark’s worth of work done, or goods produced.” The government paid workers in Certificates. Workers spent
those Certificates on other goods and services, thus creating more jobs for more people. In this way the German people climbed
out of the crushing debt imposed on them by the international bankers.
Within two years, the unemployment problem had been solved, and Germany
was back on its feet. It had a solid, stable currency, with no debt, and no inflation, at a time when millions of people
in the United States and other Western countries (controlled by international bankers) were still out of work. Within five
years, Germany went from the poorest nation in Europe to the richest.
Germany even managed to restore foreign trade, despite the international
bankers’ denial of foreign credit to Germany, and despite the global boycott by Jewish-owned industries. Germany succeeded
in this by exchanging equipment and commodities directly with other countries, using a barter system that cut the bankers
out of the picture. Germany flourished, since barter eliminates national debt and trade deficits. (Venezuela does the same
thing today when it trades oil for commodities, plus medical help, and so on. Hence the bankers are trying to squeeze Venezuela.)
Germany’s economic freedom was short-lived; but it left several
monuments, including the famous Autobahn, the world’s first extensive superhighway.
Hjalmar Schacht, a Rothschild agent who was temporarily head of the
German central bank, summed it up thus: An American banker had commented, “Dr. Schacht, you should come to America.
We’ve lots of money and that’s real banking.” Schacht replied, “You should come to Berlin. We don’t
have money. That’s real banking.”
the Rothschild agent, actually supported the private international bankers against Germany, and was rewarded by having all
charges against him dropped at the Nuremberg trials.)
This economic freedom made Hitler extremely popular with the German people. Germany was rescued from English economic theory,
which says that all currency must be borrowed against the gold owned by a private and secretive banking cartel — such
as the Federal Reserve, or the Central Bank of Europe — rather than issued by the government for the benefit of the
Canadian researcher Dr. Henry Makow (who is
Jewish himself) says the main reason why the bankers arranged for a world war against Germany was that Hitler sidestepped
the bankers by creating his own money, thereby freeing the German people. Worse, this freedom and prosperity threatened
to spread to other nations. Hitler had to be stopped!
Makow quotes from the 1938 interrogation of C. G. Rakovsky, one of the founders of Soviet Bolshevism and a Trotsky intimate.
Rakovsky was tried in show trials in the USSR under Stalin. According to Rakovsky, Hitler was at first funded by the international
bankers, through the bankers’ agent Hjalmar Schacht. The bankers financed Hitler in order to control Stalin, who had
usurped power from their agent Trotsky. Then Hitler became an even bigger threat than Stalin when Hitler started printing
his own money.
(Stalin came to power in 1922,
which was eleven years before Hitler came to power.)
“Hitler took over the privilege of manufacturing
money, and not only physical moneys, but also financial ones. He took over the machinery of falsification and put it to
work for the benefit of the people. Can you possibly imagine what would have come if this had infected a number of other
states? (Henry Makow, “Hitler Did Not Want War,” www.savethemales.com March 21, 2004).
Henry C K Liu writes of Germany’s remarkable transformation:
“The Nazis came to power in 1933 when the German economy was in total collapse, with ruinous war-reparation obligations
and zero prospects for foreign investment or credit. Through an independent monetary policy of sovereign credit and a full-employment
public-works program, the Third Reich was able to turn a bankrupt Germany, stripped of overseas colonies, into the strongest
economy in Europe within four years, even before armament spending began. (Henry C. K. Liu, “Nazism and the German
Economic Miracle,” Asia Times (May 24, 2005).
In Billions for the Bankers, Debts for the People (1984), Sheldon Emry commented:
“Germany issued debt-free and interest-free money from 1935 on, which accounts
for Germany’s startling rise from the depression to a world power in five years. The German government financed its
entire operations from 1935 to 1945 without gold, and without debt. It took the entire Capitalist and Communist world to
destroy the German revolution, and bring Europe back under the heel of the Bankers.”
These facts do not appear in any textbooks today, since Jews own most publishing companies.
What does appear is the disastrous runaway inflation suffered in 1923 by the Weimar Republic, which governed Germany from
1919 to 1933. Today’s textbooks use this inflation to twist truth into its opposite. They cite the radical devaluation
of the German mark as an example of what goes wrong when governments print their own money, rather than borrow it from private
In reality, the Weimar financial crisis began
with the impossible reparations payments imposed at the Treaty of Versailles. Hjalmar Schacht, the Rothschild agent who
was currency commissioner for the Republic — opposed letting the German government print its own money… “The
Treaty of Versailles is a model of ingenious measures for the economic destruction of Germany. Germany could not find any
way of holding its head above the water, other than by the inflationary expedient of printing bank notes.”
Schacht echoes the textbook lie that Weimar inflation was caused when the German government
printed its own money. However, in his 1967 book The Magic of Money, Schacht let the cat out of the bag by
revealing that it was the PRIVATELY-OWNED Reichsbank, not the German government, that was pumping new currency into the
economy. Thus, the PRIVATE BANK caused the Weimar hyper-inflation.
Like the U.S. Federal Reserve, the Reichsbank was overseen by appointed government officials, but was operated
for private gain. What drove the wartime inflation into hyperinflation was speculation by foreign investors, who sold the
mark short, betting on its decreasing value. In the manipulative device known as the short sale, speculators borrow something
they don’t own, sell it, and then “cover” by buying it back at the lower price.
Speculation in the German mark was made possible because the PRIVATELY OWNED Reichsbank
(not yet under Nazi control) made massive amounts of currency available for borrowing. This currency, like U.S. currency
today, was created with accounting entries on the bank’s books. Then the funny-money was lent at compound interest.
When the Reichsbank could not keep up with the voracious demand for marks, other private banks were allowed to create marks
out of nothing, and to lend them at interest. The result was runaway debt and inflation.
Thus, according to Schacht himself, the German government did not cause the Weimar hyperinflation.
On the contrary, the government (under the National Socialists) got hyperinflation under control. The National Socialists
put the Reichsbank under strict government regulation, and took prompt corrective measures to eliminate foreign speculation.
One of those measures was to eliminate easy access to funny-money loans from private banks. Then Hitler got Germany back
on its feet by having the public government issue Treasury Certificates.
Schacht , the Rothschild agent, disapproved of this government fiat money, and wound up getting
fired as head of the Reichsbank when he refused to issue it. Nonetheless, he acknowledged in his later memoirs that allowing
the government to issue the money it needed did not produce the price inflation predicted by classical economic theory,
which says that currency must be borrowed from private cartels.
What causes hyper-inflation is uncontrolled speculation. When speculation is coupled with debt (owed to private banking cartels)
the result is disaster. On the other hand, when a government issues currency in carefully measured ways, it causes supply
and demand to increase together, leaving prices unaffected. Hence there is no inflation, no debt, no unemployment, and no
need for income taxes.
Naturally this terrifies
the bankers, since it eliminates their powers. It also terrifies Jews, since their control of banking allows them to buy
the media, the government, and everything else.
to those who delight in saying “Jews financed Hitler,” I ask that they please look at all the facts.
"Permit me to issue and control the money of a nation,
and I care not who makes its laws."
Mayer Amschel Rothschild,
[quoted in Money
Creators (1935) by Gertrude Coogan, p. 329]
"Debt, particularly international debt, is the first and
grip. Through it men in high places are
and alien powers and influences are introduced
into the body politic. When the debt grip has been firmly
control of every form of publicity and political
activity soon follows, together with a full grip on industrialists."
- Archibald Maule Ramsay, The Nameless War (1952)
"History, as seen by a Monetary Economist, is a continuous
between producers and non-producers, and those
who try to make a living by inserting a false system of
between the producers and their just recompense . . .
The usurers act through fraud, falsification, superstitions,
habits and, when these methods do not function, they let loose a war.
Everything hinges on monopoly, and the particular
hinge around the great illusionistic monetary monopoly." - Ezra Pound,
"An Introduction to
the Economic Nature of the United States" (1950)
"Rothschild's ill-gotten wealth also effectively bought his family
the first Jewish seat in the British Parliament and even membership
in the British aristocracy. By combining the power
of their own
family's huge banks and other Jewish-owned banks, they could
literally bring a nation's economy to
its knees. By dominating
international banking, they could set their own financial
terms to cash-hungry nations
and amass even greater riches.
Because of the competitive advantages of Rothschild's international
dominated private banking throughout Europe.
For instance, there was almost a complete absence of Gentile
firms in Prussia in the late 19th century. In 1923
Berlin there were 150 Jewish banks and only 11 non- Jewish banks.
In the stock market, schemes similar to Rothschild's Waterloo ploy
have been used for generations, finally resulting
in the center
of world trading, all Street, becoming dominated by Jewish stock
and investment- banker operations." - David Duke,
Jewish Supremacism (2002)
"One of these means is concentrated in the world of finance.
not been primarily a matter of manifesting a genius
for making money or for actually amassing it in colossal amounts,
though of course this of itself has weighed heavily. But primarily
it has been a matter of setting up a money
system, which the entire
economic life of each nation was dependent upon, and which
developed a power so vast
and irresistible that it placed
itself beyond all effective governmental interference, and thereby
became in fact
a power above government, a power that could
bring even governments to their knees." - William G. Simpson,
Which Way Western Man? (1977)
"The day came when, little by little, I began to be aware that
the Money System had moral and spiritual implications.
I discovered deliberate deception and betrayal and a purpose
to ruin and to enslave. I discovered that for centuries it had had a
steadily growing power of enormous significance
and ditching the normal and natural development of the Western world,
doing monstrous wrong and
causing fathomless suffering.
It was only then that I began to be aroused. And I should contend
that if I now
level my lance against the evil of our Money System,
against the injury to our life it has caused, I am no more out of
proper place than I was in holding up the injury and menace of our
unbalanced birth rate, or of our industrial
system, or of the dogma
of racial equality. Indeed, in matters of this kind, I should hold that
citizen, who has a conscience and is loyal to his people,
has an inescapable duty to speak out and to act."
- William G. Simpson, Which Way Western Man? (1977)
"Thus arose the school of international finance, in which the Rothschilds
and other Jewish money-lenders were very able teachers. In fact the
mentality of England was developing in such
a direction as to enable
the Jews to prepare for the blessed day when Britain would be one
of their colonies.
These three principles — ruthless competition, free
trade at any cost, and the investment of money without any
to blood, nation, or race are fundamental to the international capitalism
in the interests of which Britain
has mobilized her forces to destroy
National-Socialist Germany. They are the basic axioms of the old order..."
- William Joyce, Twilight Over England (1940)
"The notion that the level of production should be controlled
monetary considerations belongs to a very primitive and
superstitious stage of social evolution. Indeed, there are few
savage tribes that would accept it as it is accepted in Britain today.
Suppose that in some very backward island,
a shell standard
of money prevailed. Assume also that some malicious or half-witted
creature managed to acquire
half the shells in the island and to drop
them into the water beyond recovery. The chiefs and witch-doctors
have to hold a council of emergency. But if the rulers
of that island decreed that because half the money of the community
had been lost, hunting and fishing and tilling must now be reduced by
fifty per cent, there'd be a hot time in
the old town that night.
such a simple state of society, the criminal absurdity of the
proposal would be obvious to the meanest and most untutored
Yet a policy which the most undeveloped savage tribe would reject as
nonsense has been accepted by
the British people as a sacred ritual for
years. Thus, of course, international finance, by restricting
supplies and causing shortage, can produce whatever conditions
marketing that may be most profitable to itself. If there is
one truth against which the Old School of Finance
is fighting today,
it is the supreme verity that production of goods should be based on
the needs of the people,
the only limit being the limit of natural
resources and raw materials.
Since the dawn of human history, he great struggle of man has been
to wrest from Nature by force and cunning the means of life and
enjoyment. It was only hen the blessings of modern democracy made
their appearance ne hundred and fifty years ago, that he was told, in
an arbitrary anner, that his efforts must be slackened and regulated
henceforth y the private interests of an infinitesimal proportion of the
world's population." - William Joyce, Twilight Over England (1940)
"Some people think Federal Reserve Banks are United States
institutions. They are not Government institutions.
They are private credit monopolies which prey upon the people
of the United States for the benefits of themselves and their foreign
customers; foreign and domestic speculators and
swindlers; and rich
and predatory money lenders. In that dark crew of financial
pirates there are those who would
cut a man's throat to get a dollar
out of his pocket; there are those who send money into states
to buy votes to control our legislation; and there are those that
an international propaganda for deceiving us... that
will permit them to cover up their past misdeeds and set again
in motion their gigantic train of crime . . .
Mr. Chairman, we have in this country one of the most corrupt
institutions the world has ever known. The Federal Reserve Board
has cheated he United States out of enough money to pay the national debt...
Mr. Speaker, it is a monstrous thing
for this great Nation to have its
destiny presided over by a treasonous system acting in secret concert
pirates and userers. Every effort has been made by the
FED to conceal its power. But the truth is the FED has usurped
the government of the United States. It controls everything here.
It controls foreign relations. It makes and
breaks governments at will."
- Congressman Louis T. McFadden,
Speech on Floor of the House of Representatives,
"Our money system is nothing better than a confidence trick...
The "money power" which has been able to overshadow ostensibly
responsible government is not the power
of the merely ultra-rich but is
nothing more or less than a new technique to destroy money by
adding and withdrawing
figures in bank ledgers, without the
slightest concern for the interests of the community or the real
ought to perform therein ... to allow it to become
a source of revenue to private issuer's is to create, first, a secret
and illicit arm of government and, last, a rival power strong enough
to ultimately overthrow all other forms of
- Dr. Frederick Soddy, Wealth, Virtual Wealth & Debt (1926)
"A great industrial nation is controlled by its system of credit.
Our system of credit is concentrated. The growth of the nation,
therefore, and all of our activities are in the
hands of a few men.
We have become one of the worst ruled, one of the most completely
controlled and dominated
governments in the civilized world ...
no longer a government of free opinion ... but a government
by the opinion
and duress of small groups of domineering men."
- President Woodrow Wilson, The New Freedom (1913)
"JEWS have no religious scruples regarding money where goyim
concerned. They now have the means to carry out their war
of annihilation of the West. They would not surface as a fighting
unit and openly attack their hated enemy. They remained invisible.
Their strategy was to organize the entire JEWISH
People into a
Fifth Column whose purpose is to penetrate the West and destroy
everything. This is being accomplished
by exacerbating natural
disputes between the Western States and influencing the results in
favor of Liberalism
as opposed to Authority; that is, materialism,
free trade and usury, as opposed to Western Socialism;
as opposed to Western unity. MONEY was
their sword and buckler. Hate and revenge their motif."
- James von
Brunn, "Kill the Best Gentiles! " (2009)
"Though the British public was kept in total ignorance as to
the true significance of what
was taking place in Spain two countries
in Europe were alive to the situation. Germany and Italy had each in
turn experienced the throes of communist revolution, and
emerged victorious over this foulest of earthly plagues. They
who had financed and organised the International Brigades; and
with what fell purpose Barcelona had
been declared in October 1936
the Capital of the Soviet States of Western Europe. At the critical
moment they intervened
in just sufficient strength to counter the
International Brigade, and enable the Spanish people to organise
own army, which, in due course, easily settled the matter.
That settled the matter, that is to say, as far as Spain
There was, however, another
settlement to come. International Jewry
had been seriously thwarted. They would not rest henceforward
could have their revenge; until they could by hook or crook
turn the guns of the rest of the world against these two
which in addition to thwarting their designs in Spain were in the
process of placing Europe upon a system
independent of gold and usury,
which, if permitted to develop, would break the Jewish power forever."
Maule Ramsay, The Nameless War (1952)
Big Business and the Rise of Hitler
- GERMAN BIG BUSINESS AND THE RISE OF HITLER, by Henry Ashby Turner, Jr. New York: Oxford University Press 1985. Hardcover,
Reviewed by John M. Ries
A good portion of the the accepted legacy
of German big business and its alleged role in the establishment of the Third Reich rests on the authenticity of the memoirs
of certain key individuals who either participated in or witnessed the rise to power of Adolf Hitler from close proximity.
Perhaps the two most important were Ruhr industrialist Fritz Thyssen and Hitler's press secretary Otto Dietrich. Thyssen,
whose contempt for the Weimar Republic led him to support Hitler's NSDAP as early as the fall of 1923, was long considered
to be one of its most important sources of funds. His memoirs, which Turner points out were ghostwritten, have been used
by historians to substantiate the close connection between big business and the Nazi movement from its earliest days.
Questions arise, however, concerning the
memoirs' authenticity, one particularly interesting example being a passage where Thyssen claims that he "donated 100,000
gold marks to the NSDAP in October 1923." This was a critical period not only in the life of the NSDAP but in that of
the Republic as well. Separatist movements were rampant throughout the Rhineland and Bavaria, and the Communists were threatening
to take over the governments of Saxony and Thuringia. Moreover, the French occupation of the Ruhr, the industrial heart
of Germany, continued to exert demoralizing effects, perhaps chief of which was the incredible hyper-inflation which threatened
to wipe out what was left of the German middle class.
Given the dire situation at that time, one can well appreciate the uplifting effect a sum of 100,000 gold marks
would have had on the morale of the NSDAP, then just one of many right-wing extremist groups plotting the overthrows of
the tottering Weimar Republic. Yet Turner states flatly that "in light of the available evidence, it seems unlikely
that Thyssen gave any such sum to the Nazis." In the same paragraph of his memoirs, Thyssen claims that he did not make
the payment to Hitler himself but to General Erich Ludendorff, perhaps the most important figure in anti-Republican circles
at that time, "to use it as best he could." Whether Ludendorff would have favored the NSDAP more than any of the
other groups operating in Bavaria at that time remains doubtful.
Otto Dietrich's 1934 memoirs of the Kampfzeit are likewise considered by Turner to
be more propagandistic than substantial. Their self-serving nature is revealed by the contradictions between them and a
later version published in 1955. Over that span of time it appears that Dietrich tempered his revolutionary ardor with a
more realistic assessment of the events.
This is evident when one compares the two accounts he provides of the reactions to Hitler's speech to the Düsseldorf
Industry Club on January 26, 1932. In the 1934 version, Dietrich gives the following description of the impression Hitler
made with the "elite of die Wirtschaft" who came to hear him speak on the remedies he would propose to
heal the ailing German economy: "The effect on the businessmen [of the speech], so far as they deserved the name, was
profound and became evident in the ensuing difficult months of struggle."
According to Turner, this remark has been accepted by historians as proof
that big business increased its subsidies to the NSDAP as a result of the speech. However, in the 1955 version, Dietrich
presents a quite different picture, saying that beyond some "well-meaning but insignificant sums [collected at the
door] ... one would not speak of any support worthy of mention, much less of financing Hitler's political struggle by die
Wirtschaft or heavy industry."
An "equally embellished" account in Thyssen's memoirs has served, along with Dietrich's earlier version,
as a "seminal source on the Industry Club speech and its aftermath."
What to make of this contradiction? Which version is closer to the truth?
Turner compares both to outside references
and decides in favor of the 1955 version. "From all indications," he says, "neither Hitler nor any other
Nazis mounted any sustained follow-up from those who had been present at his Industry Club speech or otherwise to enlist
them for their purposes."
goes on to add that "Hitler's failure to follow up vigorously on the entree he had gained to the business community
through his Industry Club speech tends to substantiate the hypothesis that he sought merely to neutralize big business,
not to bring its leaders actively behind the NSDAP or to exploit its financial resources for his party."
From the preceding examples one can readily
agree with the assessment Turner made of the task he faced in the preparation of this study when he said that it became
"of necessity, a book that deals not only with the past but with myths about the past." These "myths"
were found to be present not only in contemporary memoirs, but in press releases, the post-war testimony of witnesses at
Nuremberg, -- and even from Hitler himself. They all contributed to the creation of a legend involving an important yet
misunderstood aspect of the origins of the Third Reich; namely, from which sources the NSDAP received its funding.
The picture of the relationship between German
big business and the Nazi party which Turner provides us is one that reveals how little big business had to do with the
party's success. In Republican Germany, the big business community was a loosely organized, politically ineffective interest
group that was held together primarily by its opposition to the growing menace of Sozialpolitik, that is, the modern
welfare state. Its political dealings were mainly with the so- called bourgeois parties of the center and right the DVP
(Deutsche Volkspartei), the DDP (Deutsche Demokratische Partei), and the DNVP (Deutschnationale Volkspartei). However, the
general disdain big business had for the republican form of government, a government that jeopardized the privileged position
it once held under the defunct Imperial order, precluded any serious attempt to use the system to its advantage, a system
where "votes, not money" were the determining factor in political success.
In this milieu the NSDAP was only one of many political parties big business
considered funding. However, because of the party's anti-capitalist economic policies, evident since the proclamation of
the 25- point program of February 1920, the big business community was never able to reconcile itself to lending more than
half-hearted support, and this was invariably of a tactical, rather than an ideological, nature. This distrust of a party
that seemed more often than not ready to side with the radical left on important social and economic issues became so pervasive
that not even the party's strident anti-Marxism and its desire to inculcate support for national values could overcome it.
It may be true that contributions of various
sorts came from big businessmen like Fritz Thyssen, the Berlin manufacturer Ernst von Borsig, and the retired coal executive
Emil Kirdorf, but despite statements to the contrary, they were never a critical source of funding. Most of the NSDAP funds
were derived from membership dues, interest-free loans, and the gate receipts from the many mass rallies the party held.
After the parliamentary breakthrough in September 1930, sales from Mein Kampf skyrocketed, providing Hitler himself
with a steady source of income. And during the depression the volunteer labor given by party activists helped ease the effects
of the increasingly austere economic conditions.
In sum, the NSDAP was a prototypical "grass-roots" political organization able to expand and prosper during
a period when most of the bourgeois parties suffered a serious loss of support. Only the Communist Party could compare in
this regard, and it never attracted the mass following the NSDAP did.
Turner's book provides us with a new perspective on the origins of the rise of Hitler,
one based on a critical look at the role played by German big business. This is based on an examination of all the relevant
documents, rather than the rather eclectic surveys currently before the public today. This will contribute, hopefully, to
the encouragement of closer reading of historical accounts dealing with essential aspects of contemporary history, as well
as the development of a more discriminating attitude toward the sensationalized distortions of the truth which confront
us on a daily basis.From The Journal of Historical Review, Fall 1988 (Vol. 8, No. 3), pp. 369-371.
Ben Bernanke (a JEW and former Chairman of the Federal Reserve Bank)
Says “Hitler Was the Guy Who Got Economics Right in the 1930s”
Ben Bernanke has had his finger on the pulse
of macroeconomic convulsions, and many have called him the man who “doctored” the financial crisis of 2008,
and brought the American economy back into good graces.
(History News Network)
He is considered the pre-eminent
living scholar of the Great Depression, and one can say he conducts himself as such. The first paragraph in the preface
to Bernanke's 2004 book, Essays on the Great Depression, reads as follows:
My particular research specialty is macroeconomics, not economic history.
Nevertheless, throughout my academic career, I have returned many times to the study of the vertiginous economic decline
of the 1930s, now known as the Great Depression. I guess I am a Great Depression buff, the way some people are Civil War
buffs. I don't know why there aren't more Depression buffs. The Depression was an incredibly dramatic episode--an era of
stock market crashes, bread lines, bank runs, and wild currency speculation, with the storm clouds of war gathering ominously
in the background all the while. Fascinating, and often tragic, characters abound during this period, from hapless policymakers
trying to make sense of events for which their experience had not prepared them to ordinary people coping heroically with
the effects of the economic catastrophe. For my money, few periods are so replete with human interest.
On one occasion,
a Money, Credit, and Banking Lecture at Ohio State University in 1994, Bernanke referred to himself as "a macroeconomist
rather than an historian" and that his “focus would be on broad economic issues rather than historical details."
website Investopedia summarizes Bernanke’s background and philosophy in a brief article, noting that he “earned
an impressive set of academic credentials, including a Ph.D. in economics from the Massachusetts Institute of Technology
in 1979, and Bachelor of Arts in economics from Harvard in 1975, graduating summa cum laude. His academic prowess was apparent
even in high school, where his SAT score of 1590 set a state record."
He was also a professor of economics at Princeton, Stanford, NYU,
and MIT, as well as an economic advisor and served on the Fed’s Board of Governors. It is clear that he was qualified
for the job as the Federal Reserve chairman.
When asked by the Wall Street Journal how Bernanke would be remembered for his performance during the recession,
Michael Bordo, Professor of Economics at Rutgers University, responded that "Bernanke’s approach to these challenges
was influenced by his research on the Great Contraction of 1929-33. He identified the Fed’s failure to counter the
banking panics as the key factor that reduced the money supply and disrupted credit disintermediation, leading to massive
deflation and high unemployment.”
Bernanke was recently interviewed on the Freakanomics podcast – a podcast for
people who like economics – to promote his new memoir, The Courage to Act. During the chat, he was asked what FDR could
have done differently about taxes during his presidency. In his answer he said in passing that Hitler was the guy who got
economics right in the 1930s. Here’s the transcript:
I suppose he could have cut taxes, but taxes weren’t as high then as they are now.
The general recollection people have, or the vision they have of the ‘30s, was that the government employment programs
like the WPA and the building of the Hoover Dam and things like that were a big deal. And they were important, but relative
to the size of the problem they were actually quite small. And as early as the 1950s, economists pointed out that the fiscal
programs of the ’30s were actually very modest compared to the size of the problem. Ironically — and please
take this the right way — the person who sort of most understood fiscal policy, in some sense, was Adolf Hitler. Because
the rearming of Germany in the ’30s was so big and so extensive — of course, he had other objectives in mind
— but the side effect of that re-arming, together with a big highway building program, was such that Germany, which
had a very deep depression, actually came out of it much quicker than other countries, and suggested that a more aggressive
fiscal program would have helped the United States as well. And of course, what ultimately brought the United States out
of the Great Depression was World War II which was, unintentionally, a huge fiscal program.
Is Bernanke right?
On Reddit's Ask Historians page, this question was addressed, and the topic received
A simple Google
search with the words “Hitler understood economics” produces a wealth of results (pun intended). The idea of
tipping a hat – expressly to Hitler's economic approach, not his character or conduct as Fuhrer – isn't new.
In a research paper by Matthew F. Brown,
an M.A. graduate in Historiography from the University of Sydney, entitled "How was Hitler able to affect such an economic
miracle in Germany between 1933 and 1939?" Brown mentions the views of Richard Overy, a British historian who has published
extensively on the history of World War II and the Third Reich.
He said: "Overy has commented that any assumption that the Nazis performed a Keynesian
deficit financing ‘miracle’ is both a myth, and a product of the post-Nazi era. Further to this, Overy believes
that historians have debated the issue of Hitler’s economic miracle, in an effort to demonstrate the possibility that
different economic policies might have stopped Hitler."
Ian Kershaw, a historian, expanded further on the subject in a History Today article, "The
extremely important, component of the perceived Fuhrer image was, therefore, that of the architect and creator of Germany's
'economic miracle' of the 1930s. Part of the apologetic of the post-war era was, of course, that despite his 'mistakes',
Hitler had revamped the economy, rid Germany of unemployment, and built the motorways. This is itself testimony to the penetrating
and enduring features of this aspect of the contemporary Hitler image. Certainly, by 1939 it was difficult to deny that
economic conditions in Germany, for whatever reasons, had improved dramatically since the Depression era. However, more than
in any other sphere, perceptions of Hitler's image in the context of economic and social policy were determined by experiences
which were divided, for the most part, along class lines.
The working class remained the social grouping least impressed by the 'economic miracle'
and relatively immune to the image of Hitler as the creator of Germany's striking new prosperity. After all, with their
own standard of living pinned down to Depression levels in the years 1933-36, most industrial workers saw no particular reason
to offer marked signs of gratitude to the Fuhrer. Through repression and intimidation, low wages, and longer hours, the
'economic miracle', as most realized, was being carried out on their own backs. Nevertheless, as the underground worker
resistance was forced to admit, Hitler undoubtedly did gain some popularity among workers for 'his' work creation and the
economic recovery which 'he' had brought about. And in the first years of the Third Reich in particular, the 'socialist'
aspect of the Hitler image also struck a chord among many of the poorer Germans who were recipients of the 'Winter Aid'.
Even so, on the whole it appears that the image of the economic miracle-worker, the restorer of Germany's prosperity, had
its greatest appeal among those sectors of the population who benefited most from the economic boom of the rearmament period:
the middle class, who, despite their unceasing grumbling, continued to provide the main base of support for the regime and
devotion to Hitler until at least the middle of the war.
Joseph Bendersky, a specialist in German history, holds the view that "ideology played
a secondary role in Hitler’s economic policies. For reasons of expediency, Hitler did not attempt to Nazify the economy.
Instead, he left the actual running of the economy to experts in business and industry, while instituting a large amount
of control from above to force cooperation and compliance with his economic objectives. So long as they cooperated, big
business and industry profited by this relationship. In essence, the German economy under Hitler was neither totally free
nor totally controlled.”
a complex topic, and no conclusions can be drawn from this small bit of mentioned research. However, why would Bernanke credit
Hitler and not his team of economists at the time?
During the Q&A session on the Freakanomics podcast, Bernanke cited aggressive fiscal policy as his main reason
for praising Hitler’s economic performance, which included re-armament and the construction of the autobahn. The Reich
Minister of Economics himself, Hjalmar Schacht, has said that: "He [Hitler] understood nothing whatever about economics.
So long as I maintained the balance of trade and kept him supplied with foreign exchange, he didn't bother about how I managed
David Gordon of Mises.org,
a libertarian website, says that under Hitler “Germany had embarked on a Keynesian policy.” He added that “government
spending became increasingly important in guiding the economy into the military channels that Hitler wanted." In a study
of Nazi fiscal and monetary policy, economist Albrecht Ritschl concluded in 2000 that "Nazi recovery appears less spectacular
than was hitherto believed. Our results also indicate that government spending was dominated by war preparation already
in a very early phase of the Nazi recovery. I find little justification for the popular interpretation that recovery was
sparked off by non-military work-creation and the construction of the autobahn network."
Has Bernanke's comment from the podcast drawn any controversy?
LionsofLiberty.com seized on the topic as
did the Washington Examiner. A Dutch news website also published an op-ed based on his remark. Counterpunch, a website edited
by journalist Alexander Cockburn, featured an article, "Hitler vs. Bernanke."
But Bernanke largely escaped public criticism after making the statement.
He was lucky. In 2003 David Raub, the president of Chicago’s Glenview State Bank, was pressured to step down after
making comments in praise of Hitler’s economic policies in the bank’s online newsletter. Here’s his statement:
“The Great Depression of the 1930s saw falling prices, staggering unemployment and shattered stock markets all over
the world, and the world’s leading statesmen seemed helpless to defeat it. Except for one. His name was Adolf Hitler.”
That sounds like what Bernanke said.
Click on this text to watch HITLER'S GERMAN ECONOMY
THE REICH’S ECONOMIC MIRACLE
Following Germany’s defeat in 1918 international banking houses dictated Germany’s
economy and Berlin’s chancellors merely managed it. However, Adolf Hitler, the newly elected chancellor thought it
out of the question for Germany to remain indebted to usurious international finance. The incoming chancellor drove the
money-lenders out of the German temple.
It isn’t rocket science: I recall a father who under circumstances he had no control
over fell into debt. With a wife, two children and a mortgage, he had little choice but to borrow from credit card
companies. When each month he paid the £70 minimum required his debt was reduced by just £7 whilst the bank took
£67 interest. It is the same for a country’s national debt.
Hitler opted for Germany’s financial independence and therein
lays his economic miracle. He wasn’t alone; other countries like Libya, Syria, Iraq, Russia, have since attempted to
copy Hitler’s example. But Germany was the first country to challenge international banking usury.
In order to reduce the terrifying numbers of
unemployed it was planned to provide Germany with a futuristic transport infrastructure. The construction of autobahns began
using only German materials.
Roads in the West are paved with bitumen or asphalt. This petroleum-based product has to be imported and paid for
in (bank borrowed) dollars. This suits the bankers as the transport infrastructure is another udder to be milked. Germany
did not possess U.S. dollars; Hitler didn’t want them or the swingeing interest levies that accompanied them.
A case in point;
the Mersey Tunnel linking Liverpool and Birkenhead in England was constructed in 1934 using money borrowed from the banks.
In 2013 ~ 80 years later the banks were still raking in £10 million each year in interest rates and £58,000,000
is currently still owed. It is estimated that the debt will finally be settled in 2048. If you are happy with that
then enjoy your ‘democracy’ and the system; you voted for it.
One now begins to realise why within 36 months of the National Socialists
being elected the peoples of Germany enjoyed the best lifestyle and highest incomes in the world. Today, people in the West
struggle to get by on an income that is 50% directly or indirectly taxed.
FACT: 40% of the cost of everything you or your local government,
services like hospitals and schools purchase is absorbed by the banks. Your wife’s dress, your shopping bill,
the industrialist’s purchases, could be near halved if the banks are cut out of the deal. Adolf Hitler’s National
Socialists did cut the banks out making war inevitable.
To avoid buying oil-based asphalt, autobahns in Hitler’s Germany were
constructed using concrete slabs laid together upon compacted earth. All the necessary materials were available in Germany.
Unlike bitumen and asphalt surfaces concrete is far more enduring and less expensive. As a consequence, roads built in Germany
more than 80 years ago need little maintenance.
The Weimar Republic also had a motor manufacturing industry. Before Hitler,
this industry was financed by the banking houses. This had the effect of raising the selling price whilst reducing profitability.
The price per automobile would be between 1,350 and 1,600 Reichsmarks, which Hitler considered extortionate.
Dr. Porsche and
Adolf Hitler worked together on the design of the Volkswagen. This vehicle was revolutionary and innovative in every respect.
The Volkswagen was so advanced that over eighty years later the vehicle retains much of its original character.
at the time was far better-designed car than its British, French and American rivals. Bolshevik Russia didn’t
have a domestic auto manufacturing industry. The Soviet Union’s vehicles were mostly manufactured in American plants
built in the USSR ~ financed by Wall Street’s banking corporations.
The Bolsheviks were wholly dependent upon the Ford Motor Company,
Caterpillar and brands such as Studebaker. Ironically, the Soviet economy (‘workers’ paradise’) was dependent
upon American and European Jewish owned banking houses. Perhaps this will concentrate the mind to explain why the Capitalist
/ Communist alliance was formed to destroy Hitler’s Germany and later, Libya, Iraq, Syria ~ and post-Communist Russia?
Much else explains
why self-reliance rather than debt reliance catapulted Hitler’s Germany into the future. It is a sobering thought
that nearly 90 years after the National Socialists were elected very few people in the West enjoy a quality of life comparable
to the peoples of Germany did before the bank-dependent Capitalists and Communists joined forces to destroy the only country
that had defied the international banking cartels.
Why the World hates Hitler?
Liberalism's deadliest enemy Adolf Hitler transformed Germany into an authoritarian socialist
state advocating sovereignty of Nations advancement of labor preservation of the European ethnic groups and commerce based
on exchange of wares to replace the International gold standard.
Becoming Chancellor in 1933, he tackled his country's bankruptcy massive unemployment, communist
subversion and foreign domination. His social economic programs and diplomacy restored German prosperity and independence
within three years, despite determined opposition from Western democratic leaders. Richly intriguing and not without arousing
a sense of awe, Germany exerted tremendous influence our time the antithesis of democratic values in a century witnessing
the triumph of democracy, Germany went down fighting.
The task of recording the history of the period is therefore largely in the hands of the country's
former enemies. One of the flaws in their annals is a superficial assumption that National Socialism was a rootless political
program and the product of one man's worldview. There was in fact a conscious endeavor by the national socialists to align
policies with German and European customs and practices.
They believed their goals correspond to the natural progression of their continent and found
the diametrical Western democratic concept to be alien and immoral. In fact National Socialism was central Europe's answer
to globalization and its dog of war democracy.
During the first half of the 20th century two world wars ultimately imposed democratic governments
on European states that have been pursuing separate forms of politics. One of the most successful weapons in the arsenal
of democracy was atrocity propaganda; it demonized the enemy motivating allied armies and promoting their cause abroad. It
justified the most ruthless means to destroy him it defined the struggle as one of good versus evil, simplifying understanding
for the populations of the United States and the British Commonwealth.
The atrocities at allied propagandists attribute to Germany remain lavishly publicized to
this day conducted more zealously by the entertainment industry than by historians. This is largely an emotional presentation
with little or no factual content rather it would be more useful for the authors of such legends to question for example
why: after the victorious Allies established democratic governments throughout Europe in 1919, this state formed became
practically extinct there in 20 years Russia, Italy, Hungary, Poland, Lithuania, Austria, Germany, Greece, Spain, Slovakia,
and soon thereafter France adopted authoritarian regimes.
Several of these countries closed ranks with Germany as Hitler gave viable popular political
form to the growing resentment against Liberalism and its culture breaking spirit. National Socialism was not a spontaneous
phenomenon that derailed Germany's evolution and led the country astray it was a movement 200 years in the making anchored
deeply in the traditions and heritage of the German Volk and their fundamental requirements for life. Adolf Hitler gave
tangible political expression to ideas nurtured by many of his countrymen that they considered complementary to their national
character. Though his opposition party's popular support was mainly a reaction to universal economic distress, Hitler's
coming to power was nonetheless a logical consequence of this German development.
While American European and Jewish financial interests continued to invest vast sums of capital
into global communism and colonialism in the West were industrially advanced societies existed, liberalism became the chief
social mechanism for controlling mass populations. By breaking down cultural norms and thereby cultural health and integrity,
the elites sought to undermine national spirit. By breaking the cohesiveness of European cultures they sought an accelerated
globalization process as a consequence. Hitler considered modern liberalism as a hijacking of European culture, therefore
he promoted Germany self-sufficiency and independence, his party advocated the sovereignty of Nations while classical liberalism
was the social mechanism by which the European people shared the feudal monarchical system that had ruled for centuries.
Its greatest legacy was making people conscious of their individual human rights, although National Socialist propagandists
publicly acknowledged the contribution of liberalism they warned that without controls the free reign of personal ambition
would always lead to abuse.
And as much as liberalism was once of service in promoting the value of individual initiative
and qualities of leadership, its ideals of freedom and personality have degenerated into the concept of downright arbitrary
conduct in personal life, but even more so in economic and commercial life. Hitler argued that the absence of sufficient
state controls in a democracy enabled the wealthy class to manipulate the economy the press and elected officials for its
own gain. In other words there was practically no responsibility built into democracies: the anonymity of the majority of
the moment decided, government ministers were subject to it but there was no opportunity hold this majority responsible.
As a result, the doors opened to political carelessness and negligence to corruption and fiscal mismanagement corruption.
In America had spread so
much according to him that no American citizen got upset anymore over incidents of shameless corruption and civil service
because mismanagement was regarded as a natural phenomenon of the government itself. Democracy had failed because it was
a product of liberalism.
To overcome the liberal ideal, which for many was freedom personified he introduced an alternative
state form. It created opportunities for self-development but also instructed Germans in obedience. In so doing, Hitler
eventually achieved the parity between individual liberty and state obligation long contemplated by the german intellectual
movements of the previous century.
National Socialism was diametrically opposed to Marxism as it emphasized national pride while
still promoting individualism property ownership was a human right and German horrible systems based on ability were simply
not part of Marxist doctrine. The incompatible nature of these philosophical systems would eventually draw Germany into a
war with the global financial forces. As it would become gradually clear, that the two largest liberal democracies in the
West namely England and the USA were financing the industrialization of the Soviet Union, this he rightly understood meant:
a military buildup that would eventually be unleashed upon Germany eastern border at some point in the future.
As a side note, Hitler served
in the Bavarian army during the first world war where he fought at the battles of EEP, the Somme, Arras and Passchendaele,
earning the Iron Cross first class, the Iron Cross second class, the wounded badge, the cross of Honor, the Bavarian Cross
of Military Merit, the third class, was sorts amongst others. In other words, he understood war. In order to understand
the physical crisis which Hitler inherited we must go back to 1914. Germany's financial troubles began on the first day
of World War one, when the Western central bank simultaneously took her off of the International gold standard at the time
much of Germany's gold was stored in foreign nations as a way of doing trade foreign banking and international investing
this blow ensured that by 1918 the German gold mark would be worthless and Germany would be guaranteed to lose the war.
After 1918, the deliberately
weakened rush mark was susceptible to volatility and hyperinflation with the Dawes plan enforced under 1924 the foreign
central banks made an attempt to make the Reich bank independent of German government so that international interests could
control its money supply. This led to massive overdrafts and the financial crisis of 1931 which bankrupted the country utterly.
When Hitler, Hjalmar Schacht, and Vaulter Funk reestablished government control of the Reich Bank via a law passed in the
Reichstagin 1937, all foreign control of German affairs was eliminated but World War two was also made inevitabl.
The 1918 - 1919 post-war
naval blockade starved Germany into taking terms at Versailles. They lost 60% of their industry their foreign holdings and
colonies were stolen by international brokers its gold reserves disappeared and large tracts of its lands were incorporated
into surrounding countries. This taught Germany that alien and foreign interests could not be trusted. Hitler's idea to
circumvent the dependence on these interest groups was autarky or self-sufficiency. Germany would do for itself whenever
it could and trade only if the benefits were great enough similar in some aspects to the Spartan economy of old.
Two days after becoming Chancellor
Hitler outlined his economic program in a national radio address quote: “within four years the German farmer must
be rescued from poverty, within four years unemployment must be finally overcome. The government enacted laws based on the
strategy conceived by Fritz Reinhardt a state secretary in the righteous Ministry of Finance this unassuming pragmatic economist
introduced a national program to create jobs on the premise that it is better to pay people to work than to award them jobless
The labor procurement law
of June the 1st 1933 allotted 1 billion rush marks to finance construction projects nationwide it focused on repair or remodeling
of buildings business structures residential housing and forms construction of subdivisions and farming communities regulating
waterways and building gas and electrical works. Men who had been out of work the longest or who were fathers of large families
received preference and hiring. None were allowed to work more than 40 hours a week and the law stipulated that German construction
materials must be used. Also past that summer the building repair law providing an additional five hundred million Reichmarks
for smaller individual projects.
Home owners received a grant covering 20% of the cost of each project including repairs and
additions owners of commercial establishments became eligible for grants for conducting renovations plus for installing
elevators or ventilation systems renters could apply for grants to upgrade apartments. Under the law's provisions, property
owners receiving grants borrowed the balance of new construction costs from local banks or savings and loans. The government
provided borrowers coupons to reimburse them for the interest on the loans.
The tax relief law of September 21st 1933 offered income and corporate tax credits for repairs.
The regime covered nearly 40% of the cost for each renovation the company refinancing law legislated the same day converted
short-term loans into long-term ones with lower interest. The law reduced the previous 7% interest rate to four ultimately
to 3% this did not hamper finance companies since it prevented defaults on loans. The refinancing law released businesses
from the obligation to pay their portion of unemployment benefits to former associates. The resulting available capital
enabled them to rehire employees and expand production.
The labor procurement law provided newlywed loans of 1,000 Reichsmarks at 1% monthly interest.
The loans came in the form of coupons to buy furniture household appliances and clothing to be eligible the bride had to
have been employed for at least six months during the previous two years and had to agree to leave her job. Returning women
to the home vacated positions in commerce and industry creating openings for unemployed men. For each child born to a couple,
the government reduced the loan by 25% and deferred payments on the balance for one year. For larger families upon birth
of the fourth child the state forgave the loan it financed the program by imposing sur taxes on single men and women.
By June 1936 the government
approved seven hundred and fifty thousand marriage loans. Reinhart described the policy of diverting women into the household
economy as steadily regrouping our German women with regard to the labor market and with respect to social policy. This
regrouping alone will in a few years be sufficient to eliminate unemployment and bring about an enormous impetus in every
branch of German economic life”.
The marriage law released approximately 20,000 women per month from the workforce after September
1933. The increase in newlyweds created a corresponding need for additional housing more tradesmen found work in new home
construction. In the furniture industry manufacturing creased by 50% during 33 alone factories producing stoves and other
kitchen appliances could not keep pace with consumer demand. The state imposed no property tax on young couples purchasing
small single-family homes
As Reinhardt predicted, reduced payments and jobless benefits and increased revenues through
corporate income and sales taxes largely offset the enormous cost of the program to reduce unemployment and revive the economy.
The race also focused on relieving the distressed circumstances facing the chairman farmer. The Depression had left many
farms in debt younger family members often left their homes to seek opportunity in the cities.
September 1933 law established the Reich food producers, an organization to promote the interests
of people in the agrarian economy fishermen and gardeners. With 17 million members the principle objectives were to curtail
the gradual dining-out of farms in Germany and prevent migration of rural folk to concentrated population centers.
Controlling the market value
of foodstuffs the organization gradually raised the purchase price of groceries by over ten percent by 1938. This measure
was not popular among the public but it ensured that Germany now created and controlled its own food supply.
Germany's economic reforms
could never been so successful without overhauling the tax structure. In the Weimar Republic state and local governments
had raised revenue for operating expenses reparation payments to the auntaunt and public aid through steadily increasing
taxation. The drain on working families’ budgets had reduced purchasing power, restricted the demand for consumer
goods, decreased production and caused layoffs. As more people lost jobs, unemployment payouts were augmented.
This meant placing greater
demands on those still in the workforce municipalities collected taxes and fees according to local needs without a nationally
coordinated revenue system. Costly, inefficient and overlapping bureaucracies burden citizen and economy alike tax reform
was a major element of right arts recovery program initial measures legislated to this end demonstrate what a crippling influence
the voracious runaway Taxation had previously exercised on Commerce. The first to benefit from tax relief was Germany's
automotive industry. The motor vehicle tax law of April 1933 abolished at one stroke all operating taxes and fees for privately
purchased cars and motorcycles license after March 31st of that year. The reduction in consumer cost to own and operate
a car was so dramatic as to significantly boost sales. While the industry produced just 43,000 passenger vehicles in 1932,
the number doubled during Hitler's first year in office new car production increased annually the number of people employed
in automobile manufacture climbed and in less than four years from 1933 to 1937 the industry built 15 more assembly plants
The government recovered the revenue lost from a peeled automotive taxes to reduce payments
of jobless benefits income tax from newly employed auto workers highway tolls and corporate tax. The state collected an
additional 50 million Reichmarks by offering owners of older cars the opportunity to pay a one-time reduced fee to permanently
eliminate their annual vehicle tax liability. The government devoted the entire amount to improving roads thereby hiring
more people for pavement and bridge repair. Others found work in industries that manufactured machinery.
The tax law ratified on June
1st of 1933 eliminated fees for the replacement and purchase of tools and machinery as long as buyers opted for German made
articles. This measure breathed life back into industrial equipment production. In the long run Germany's policy of reducing
taxes to promote Commerce increased public revenues.
In a Nuremberg speech in 1936, Reinhardt described income tax as the main source of revenue.
Income tax is measured according to the citizens’ actual income that is therefore the most socially just form of collecting
ta. The 1933 Swedish study comparing taxation among great powers established that the German people paid 23% of their income
in taxes in the u.s. the amount was 24% in Norway 25 Britain 25 and Italy 31 percent this figure did not take into account
America's numerous hidden taxes that were non-existent in Germany
No program to restore German prosperity could omit international trade. Deprived of its colonies,
the Reich had to develop foreign markets to acquire raw materials for industry and a portion of the food supply.
With gold reserves exhausted,
the National Socialist Administration had to create alternative source of purchasing power. Despite objections from Hjalmar
Schacht, president of the Reich bank. Hitler withdrew Germany's money system from the gold standard. Gold was the recognized
medium of exchange for international commerce over centuries that had become a commodity as well.
Financier bought and sold
gold speculated on fluctuations in price and loaned it abroad at high interest. Hitler substituted a direct barter system
and foreign dealings. German currency became defined as measuring units of human productivity. The British general JFC fuller
observed Germany is already beginning to operate more on the concept of labor than on the concept of money.
In January 1938 the Soviet
diplomat Christian Rockoffski commented on the German money system, Rockoffski had held posts in London and in Paris and
was acquainted with Wall Street financier he explained: “Hitler, this uneducated ordinary man as that of natural intuition
and even despite the opposition of the technician shocked created an especially dangerous economic system an illiterate
and every theory of economics driven only by necessity he has cut out international as well as high Private Finance Hitler
possesses almost no gold and so he can't endeavor to make it a basis for currency since the only available collateral for
his money is the technical aptitude and great industriousness of the German people technology and hard work have become his
Germany's withdrawal from
the gold based internationally linked monetary system in favor of a medium of exchange founded on domestic productivity
correspondent to Hitler's belief in maintaining the sovereignty of nations. This was unwelcome development in London in Paris
in New York, were cosmopolitan investment in banking institutions profited from loaning money to foreign countries. Germany
no longer had to borrow in order to trade on the world market. Foreign demand for German goods correspondingly created more
jobs within the Reich.
With these economic policies in place, coupled with his focus on nativist traditional culture
as the core value system of the German nation, Hitler became a globalist nightmare. The rapid turnaround of Germany's economy,
the positive outlook of a young dragon generation and the utter disdain for progressive liberalism and media ran democracy,
all but guaranteed an international assault on the fatherland.
Despite to have our agreement and many other attempts to placate observers abroad Hitler's
coup was answered in the heaviest way possible one in which the German people were made to suffer greatly. Even now they
face extermination from the abstract guilt placed upon them by the victors that very same group the Germans struggled to
throw off. We can now only watch in horror as this nation slowly drowns.
Finally, Adolf Hitler was one of the great leaders in Human History in particularly the most
important leader for the White people (Ethno-Europeans worldwide). The world is being destroyed since several decades if
not centuries by those behind the curtains, the Jews. Only few people, who meditate enough and connected the dots, realize
that the Whites ethno-Europeans people were the main losers of WW2, not the Germans.. They gave the full control of
their countries to the Jews and missed the chance to be saved by the Germans. They were since then and before used by the
Jewry to wage wars against the enemies of the Jewry at some particular instance of time. They are now facing their inevitable
peaceful ethnic extinction due to their adoption of Marxism, egalitarianism, multiculturalism, feminism, anti-family propaganda,
and all other forms of social and moral corruptions promoted by Jewry. There might be no chance at all today to have such
leadership to save the West unless we re-learn History and conclude who is the great evil behind everything. Moreover most
White ethno-Europeans became too much morally corrupt and globalists to even suggest the idea that they have right to exist
peacefully on the planet. They are so afraid to speak out against their most fierce deadliest enemy, the Jews.
Please do your best to
watch “Europa the Last battle” in all its parts, especially part 5, part 3 or part 7. Create DVDs from this documentary
and give it as gift to your friends. It is currently one of the most exciting educational materials. It is constantly removed
and re-uploaded on YouTube, but few clicks allows you to find it back.
Stay safe J
German Big Business and the Rise
... The picture
of the relationship between German big business and the Nazi party which Turner provides us is one that reveals how little
big business had to do with the party's success ... Most of the NSDAP funds were derived from membership dues, interest-free
loans, and the gate receipts from the many mass rallies the party held ... In sum, the NSDAP was a prototypical
"grass-roots" political organization able to expand and prosper during a period when most of the bourgeois parties
suffered a serious loss of support.
How Once A Torn Country Liberated Itself From
Over the last week while discussing Trump’s Parasite Guild economic advisers, The New Nationalist (TNN) proposed the concept of debt default and repudiation and without bankster “Washington
Consensus” privatization loots. This is the key step toward moving people out of the grips of the international debt-enslaver
The hidden history is that this measure was instituted
by the German National Socialists in 1933 and to the continued horror of the Parasite Guild and bankster Cabal. Germany
effectively booted out the Rothschild’s privately own central bank and issued their own money. In addition, Germany
repudiated the Dawes Plan Versailles reparation payment looting scheme. Then, Germany eradicated cultural Marxists and the
(((Frankfurt School))) out of its educational system and media.
following is an excerpt from Ellen Brown’s book Web of Debt and represents more suppressed, hidden history. For more on the revolt against central banking historically, see “Money Masters” in the Recommended Videos section of this website.
their own money was key thwarting the international banking cabal. Hitler and the National Socialists, who came to power
in 1933, took the cue from Abraham Lincoln, who funded the American Civil War with government-issued paper money called
“Greenbacks.” As Brown writes:
began his national credit program by devising a plan of public works. Projects earmarked for funding included flood control,
repair of public buildings and private residences, and construction of new buildings, roads, bridges, canals and port facilities.
The projected cost of the various programs was fixed at one billion units of the national currency.
One billion non-inflationary bills of exchange, called Labor Treasury Certificates, were then issued
against this cost. Millions of people were put to work on these projects, and the workers were paid with the Treasury Certificates.
This government-issued money wasn’t backed by gold, but it was backed by something of real value. It was essentially
a receipt for labor and materials delivered to the government. Hitler said, “for every mark that was issued we required
the equivalent of a mark’s worth of work done or goods produced.” The workers then spent the Certificates on
other goods and services, creating more jobs for more people.
In addition the propaganda of the state was transformed to honor labor, and especially labor for
the benefit of the country or Reich and people or Volk. In the early years, massive rallies to that end were held in Germany.
The message of these rallies as shown here couldn’t be more clear. The key message (at 5:08) was the ideal that work
would no longer be a dividing concept but a uniting one. No wonder this thinking is suppressed in today’s twisted,
unnatural, upside-down, plantation world.
two years, the unemployment problem had been solved and the country was back on its feet. It had a solid, stable currency,
no debt, and no inflation, at a time when millions of people in the United States and other Western countries were still
out of work and living on welfare. Germany even managed to restore foreign trade, although it was denied foreign
credit and was faced with an economic boycott abroad.
this by using a barter system: equipment and commodities were exchanged directly with other countries, circumventing the
international banks. This system of direct exchange occurred without debt and without trade deficits. Germany’s
economic experiment, like Lincoln’s, was short-lived; but it left some lasting monuments to its success, including
the famous Autobahn, the world’s first extensive superhighway.
who was then head of the German central bank, is quoted in a bit of wit that sums up the German version of the “Greenback”
miracle. An American banker had commented, “Dr. Schacht, you should come to America. We’ve lots of money and
that’s real banking.” Schacht replied, “You should come to Berlin. We don’t have money. That’s real banking.”2
As a result of the economic and morale recovery, “Hitler was quite popular with the
German people. Stephen Zarlenga suggests in The Lost Science of Money that this was because he temporarily rescued Germany from English economic
theory — the theory that money must be borrowed against the gold reserves of a private banking cartel rather than
issued outright by the government.3″
According to Canadian researcher Dr. Henry Makow, this may have been a chief
reason Hitler had to be stopped: he had sidestepped the international bankers and created his own money. Makow quotes from
the 1938 interrogation of C. G. Rakovsky, one of the founders of Soviet Bolshevism and a Trotsky intimate, who was tried
in show trials in the USSR under Stalin. According to Rakovsky, Hitler had actually been funded by the international bankers,
through their agent Hjalmar Schacht, in order to control Stalin, who had usurped power from their agent Trotsky. But Hitler
had become an even bigger threat than Stalin when he had taken the bold step of printing his own money. Rakovsky said:
[Hitler] took over for himself the privilege of manufacturing money and not only physical moneys, but
also financial ones; he took over the untouched machinery of falsification and put it to work for the benefit of the state
. . . . Are you capable of imagining what would have come . . . if it had infected a number of other states . . . . If you
can, then imagine its counterrevolutionary functions.4
Henry C K Liu writes of Germany’s remarkable transformation:
came to power in Germany in 1933, at a time when its economy was in total collapse, with ruinous war-reparation obligations
and zero prospects for foreign investment or credit. Yet through an independent monetary policy of sovereign credit and
a full-employment public-works program, the Third Reich was able to turn a bankrupt Germany, stripped of overseas colonies
it could exploit, into the strongest economy in Europe within four years, even before armament spending began.5
In Billions for the Bankers, Debts for the People (1984), Sheldon Emry commented:
issued debt-free and interest-free money from 1935 and on, accounting for its startling rise from the depression to a world
power in 5 years. Germany financed its entire government and war operation from 1935 to 1945 without gold and without debt,
and it took the whole Capitalist and Communist world to destroy the German power over Europe and bring Europe back under
the heel of the Bankers. Such history of money does not even appear in the textbooks of public (government) schools today.