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History
See other History Articles

Title: Hitler's Monetary System
Source: Rense
URL Source: http://www.rense.com/general77/hitn.htm
Published: Jul 15, 2007
Author: Rense
Post Date: 2007-07-15 00:50:08 by robin
Keywords: None
Views: 1246
Comments: 85

Hitler's Monetary System 7-14-7

"We were not foolish enough to try to make a currency coverage of gold of which we had none, but for every mark that was issued we required the equivalent of a mark's worth of work done or goods produced. . . .we laugh at the time our national financiers held the view that the value of a currency is regulated by the gold and securities lying in the vaults of a state bank." -Adolf Hitler, 1937 (CC Veith, Citadels of Chaos, Meador, 1949.)

"And it proved sound. It worked. In less than ten years Germany became easily the most powerful state in Europe. It worked so magically and magnificently that it sounded the death knell of the entire (Zionist) Jewish money system. World Jewry knew that they had to destroy Hitler's system, by whatever means might prove necessary, or their own [system of usury] would necessarily die. And if it died, with it must die their dream and their hope of making themselves masters of the world. The primary issue over which World War II was fought was to determine which money system was to survive. At bottom it was not a war between Germany and the so-called allies. Primarily it was war to the death between Germany and the International Money Power." --William Gayley Simpson, 'Which Way Western Man' (p.642)

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Begin Trace Mode for Comment # 14.

#14. To: robin (#0)

The best book on the economy of Nazi Germany is the recent Wages of Destruction. Because of Hitler's big rearmament program, the Nazi government ran increasingly large deficits. Finally, it was obliged to invade other countries to seize assets and find a temporary fix to the problem.

Sound familiar?

aristeides  posted on  2007-07-15   9:15:00 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 14.

#15. To: aristeides, Red Jones, noone222 (#14)

Yes it does! So that needs to be factored in also.

Of course, Smirk and Cheney started with a surplus (however cooked in the books) and have brought us record deficits and an unpopular and evil war.

Whereas Germany had enormous debt/inflation and economic woes that were mostly fixed (I thought) and then invaded Poland etc.

robin  posted on  2007-07-15 09:23:16 ET  Reply   Untrace   Trace   Private Reply  


#19. To: aristeides, historian1944 (#14)

An excellent read and a salutary reminder for people who, like myself, tend to focus on the political and military aspects of WW II, that there were other powerful forces at work as well. Tooze clearly shows that even absolute dictatorships just can't afford to neglect the balance of payments. He argues, convincingly, that Speer's "armaments miracle" wasn't much of a miracle after all, but to illustrate the point he seems to overstate the achievements of the German arms producers in the first three years of the war somewhat. For instance, it may be, as he states, that the number of "combat-worthy medium tanks" doubled from May 1940 to June 1941 (page 433), but this was an increase from a very small base (not much more than a thousand). Moreover, many of these tanks were Czech, and rather than being 36- and 38-ton tanks as Tooze states, they were in the 10-ton class, and clearly unsuited for the medium tank function they were expected to fulfill. The fact that the Germans were forced to keep the Czech TNHP tank, which did not have one single part in common with German tanks, in production (as the Pzkpfw. 38t) to make up the numbers already says a lot about the relative impotence of the German tank industry at that time. Medium tank production in June 1941, the month the Soviet Union was invaded, was 38 Mark IVs and 133 Mark IIIs (plus 65 Czech 38ts), decidedly unimpressive compared to US tank production, which starting from scratch reached one thousand per month in little over a year, or compared to Soviet tank production which soon reached comparable levels under unimaginably difficult conditions. Even taking into account reduced steel quotas for the army and other constraints, there still seems to be something of an "armaments mystery" for the first half of the war, even if there was no real "miracle" in the second half.

One Amazon review. Looks good, as does the commentary, thanks.

robin  posted on  2007-07-15 09:36:40 ET  Reply   Untrace   Trace   Private Reply  


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