The magic of money; translated from the German by Paul Erskine [Hjalmar Schacht] on *FREE* shipping on qualifying offers. Hjalmar Schacht. Oldbourne, – Bibliographic information. QR code for The Magic of money. Title, The Magic of money. Author, Hjalmar Schacht. Hjalmar Horace Greeley Schacht (22 January – 3 June ) was a German economist, banker, centre-right politician, and co-founder in of the German Democratic Party. He served as the Currency Commissioner and President of the Reichsbank . Schacht, in his book The Magic of Money (), wrote that Montagu.

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It was he more than anyone who was responsible for the close co-operation between the banks and industry.

More than thirty paper manufacturers worked at full capacity solely to provide paper for the Reichsbank notes. On a journey through Turkey which I made with some friends in the conversation turned to our future careers.

The Magic of Money

No reason was given. The above figures may not seem much in our inflationary times, but in those days 8, gold Marks per annum was a considerable income for a year-old. If everyone could print his own money, equivalent in value to Reichsbank notes, then the Reichs- bank had to relinquish its position as central bank in control of all currency and credit.

But contact even with larger papers was restricted largely to the insertion of advertisements. Schlieker was on the right road, both from the technical and from the organisational point of view, but he lacked financial wisdom.

The Magic of money – Hjalmar Schacht – Google Books

Major defendants at the Nuremberg trials. What is the salary of the Reich Currency Commissioner? Two days later he returned to tell me that unfortunately he could not accept my proposal, because Weizmann had been vehemently opposed to the plan.


He knew Goethe, and was friendly mzgic. Nonetheless, it is very much in the interest of the banks that their clients should not suffer as a result of falls in the value of money. Each country, even if its central bank was under obligation to exchange paper for gold, had only a national currency i.

But it was especially preparations for and campaigns of war which required more money than was readily available. You are commenting using your Facebook account. In the years between the Schachh and the Young plan I experienced a noteworthy example of the inter-connection between the monetary economy and foreign politics.

It is the background which is crucial.

Whether the Jews of the world would have been in a position to save their German brethren from the fate which later overtook hjaomar will always remain a debatable point amongst people of good will everywhere. However, the Bank of Dresden did not ask me to be a banker.

The princes made every endeavour to retain the services of their Court factors, and, in addition to making profits by way of interest and commission, they were protected from persecution, and often also rewarded with external honours, such as elevation to the nobility, permission to own laud and similar privileges.

Morgan was able to do without such artificial aids to his standing and dignity. The Magic of Money. However, this committee did not have all the authority which the Reichsbank would have liked it to have.

In almost all cases such investments and loans result in orders for the home industry. An effort to secure the immigration of Dr. Remains discovered in Berlin in and conclusively identified in ; confirmed to have committed suicide on 2 May 2 Committed suicide on 15 October before sentence could be carried out 3 Found unfit to stand trial 4 Committed suicide on 25 October I performed my duties in the field of political economy in the morning, lunchtime and outside banking hours.

Contracts must be honoured.


Hjalmar Schacht

The emergency money vanished. I regarded the deception of the public over the value of the paper Mark to be particularly unjust socially.

Yet such industrialisation not only presents a monumental task of education and training, it also requires a vast amount of capital.

The cautionary example of the consequences of excessive foreign indebtedness did not prevent the German banks from continuing to employ short-term foreign loans in their business. This book is not yet featured on Listopia.

By using this site, you agree to the Terms of Use and Privacy Policy. Such clients needed credit for the purchase of foreign raw materials and foodstuffs, as well as for the sale of producer and mney goods. Permission was granted, on con- dition that I would use my free time, that is before and after bank opening hours and the lunch hour, to perform my existing duties, and provided that these duties would not suffer as a result of my other activities.

Full text of “Schacht Hjalmar The Magic Of Money nwo illuminati freemasons”

For amongst the stipulations governing the issue of the Rentenmark, there was one which forbade the surrender of Renten- marks to foreigners. There is even less excuse for a widespread abuse which took place in the spring of This constitutes its wizardry, its secret, its mystery, its magic. Want to Read Currently Reading Read.

He became deputy director of the Dresdner Bank from to A less attractive side of the stock exchange is that it fosters specula- tions not always motivated by rational considerations, and often seduces the inexperienced into permitting themselves to be influenced into fanciful or unthought-out paths.