The following is based on a lecture which I gave at the Amerika-Institut, Berlin, on August 11, 1938 before a group of American Professors headed by Professor Dr. Bruner of Teachers College, Columbia University, New York. It provides a short systematic sketch of the various measures of economic policy undertaken by the German Government in the course of the past few years in order to regulate production and consumption in accordance with the aims of German economic policy. For more detailed information I refer the readers of this article to the Weekly Reports of the German Institute for Business Research (Institut für Konjunkturforschung, Berlin-Charlottenburg 2, Fasamenstr. 6)
Post WWI Germany is a case study in relation to both the negative effects of banking manipulation and printing press inflation on the one hand, and the positive socio-economic effects of sovereign credit financing on the other.
DER KAMERAD: Dr. Hjalmar Schacht, was a secret anti-German Zionist agent of the World Bankers. However, the following article is interesting with clear historical value…
Germany’s Position In World Economy
By Dr. Hjalmar Schacht Reich Minister and President of the Reichsbank
I
The trade and prosperity of a country as well as its intellectual and cultural life depend on a flourishing world trade to such an extent that we must never tire of stressing the need for international economic co-operation. Although the leading economists in practically all countries have directed attention again and again to the national losses resulting from the world-wide economic depression, and have endeavoured to formulate recommendations for a real improvement, ignorance of the steps that must be taken to effect this purpose is still quite general, and there are no signs of a vigorous policy intended to reanimate trade intercourse between the various nations. Seeing that questions affecting world trade are always sure to attract intelligent interest in a country like Great Britain, I am glad of this opportunity for stating once more my views on these matters, more especially in so far as they affect the attitude of the new Germany towards world trade. I shall try to give a brief account of the conditions which, in my opinion, must be fulfilled before we can look forward to a genuine economic recovery throughout the world.
What a transformation of the present system and what forces you are challenging,” the old world replies. “Yes,” we retort. “we are challenging great forces and we are carrying through nothing less than a revolution in the subordination of finance to industry.” But the key to the problem is power in Government, and it is for no light or idle reason that we ask real power.
We will never see an end of ructions, we will never have a sane and steady administration until we gain an absolutely clear conception of money. I mean an absolutely not an approximately clear conception.
Goldman Sachs, a part-owner of the Federal Reserve, played a key role in the 2008 credit crunch. The bank is still willing to market questionable products no matter the consequences to clients or society.
“Η βασική ιδεά στην φιλοσοφία του παρσινόραχου (δολαρίου)…, είναι ότι η έκδοση του νομίσματος είναι μία λειτουργία της κυβέρνησης, ένα κυρίαρχο δικαίωμα το οποίο θα έπρεπε να μην εξουσιοδοτηθεί στις εταορείες.”
— Dr. Davis Rich Dewey, 1902, καθηγητής οικονομικών και στατιστικής
“The underlying idea in the greenback philosophy…is that the issue of currency is a function of the government, a sovereign right which ought not to be delegated to corporations.”
— Dr. Davis Rich Dewey, 1902, professor of economics and statistics