German Leadership

The man who made it all possible ...

No, not Hitler, but his companion here, Dr (Horace Greeley)Hjalmar Schacht (I kid you not), Hitler's Minister for Economics, 1934-'37. Hjalmar Schacht's "creative" approach to State borrowing and trade agreements (in this case, strangely integrated) was vital to the launching of the Nazi "economic miracle" on a tide of distinctly funny money. For some reason, this sounds familiar ... Schacht fell from influence due to his objections to the "inflationary" policy of rearmament. This brought him into conflict with Goering, "Plenipotentiary of the Four-Year Plan". Hitler's backing for rearmament as a priority signalled Schacht's defeat in this (typically Nazi) internal battle. He was retained as "Minister without portfolio" in Hitler's cabinet but, after 1937, had at best a modest influence on German economic policy. Best regards, JR.