Why do people bring up this book as evidence for the claim that the German economy was on the verge of collapse in the late 1930s, which drove Hitler to war? Tooze not only doesn't state this anywhere in his book, but he explicitly lays out Germany's logic in going to war in 1939, which was influenced not by an overheating economy but the fact that it had already reached its full potential in comparison to the Allies:
>Furthermore, as this book shows for the first time in full detail, the German armaments economy in the summer of 1939 was being seriously squeezed by the persistent problems of the balance of payments. This is not to say that the Third Reich was facing an economic crisis. The combination of controls put in place in the course of the 1930s was undeniably effective in preventing the recurrence of a general crisis of the kind that had come close to destabilizing Hitler's regime in 1934. But in 1939 the precarious situation of the German balance of payments permitted no further acceleration of the armaments effort. Since Britain, France, the United States and the Soviet Union were all accelerating their rearmament at precisely this moment, Hitler found himself facing a sharp deterioration in the balance of forces at a date far earlier than he had expected.
p. 662-663
I'm not defending the Nazi economy here but it seems like most people don't even know anything about the works they're citing beyond a wikipedia-tier summary of it.
Why do people bring up this book as evidence for the claim that the German economy was on the verge of collapse in the...
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German economy was on the verge of collapse not because of overheating but because of all the reasons stated in the one passage you googled and greentexted.
>This is not to say that the Third Reich was facing an economic crisis.
well maybe economic crisis isn't the case, but certainly a political or geopolitical crisis as a delayed aggression would eventually mean that Germany soon rapidly falls behind in an arms race against the combined great powers aligned against it. barred from a general european war, there'd have to be a return to civilian production and a reckoning for its tremendous debt which it just racked up for an ultimately fruitless armaments program directed at nothing, meaning a loss of confidence in the german government as a borrower, and possibly bringing a huge recession or stagnation which topples the government or forces it to liberalize
Based Tooze.
>Debt
>Labour-based currency
Do you have readed something about Nazi economy that its not written by the allies? I'm not defending it Im just saying that debt in the nazi economy where abolished
>debt in the nazi economy where abolished
what do you mean by this?
I mean that in Nazi germany the only debt that existed was personal debt without interest given by the central bank
If you go to the main source you can elaborate a better view of the situation
The German economist Gottfried Feder, father of the National Socialist economy, in his work Manifesto for the breaking of the servitude of the interest of money, devoted a specific study to the interest of money and why it constitutes a great evil for a country.
The thesis of the interest loan, says Feder, is "the diabolical invention of supracapitalism".
Hjalmar Schacht (a freemason and saboteur of German military efforts) was one of the main entrusted to feed at the beginning of the 30s, the instability that ended up falling to the successive German chancellors until Adolf Hitler took office. Schacht obtained loans from the the bankers Montagu, Mendelssohn, Wassermann, Warburg and the North American Morgan Bank
When Hitler secured power, and coinciding fully with Feder, he rejected Schacht's proposals for Germany to borrow from foreigners and forbade him to continue on that path. He told him that he did not want Germany to live on loan; "The loans tied the country, they cut off their sovereignty."
The credits, in addition to which they mean a load of interests, imply to depend politically on forces foreign to the nation. Interest devours people's ability to save money
Feder's ideas were rejected by the Nazis when they came to power.
Following the basis of the abolition of money interest, a bank can lend money in order to cover personal projects without interest. The Central Bank of Germany (the equivalent of the Federal Reserve today for the United States) was the Reichsbank which, unlike its American counterpart, created money free of debt and interest, which represented a work done and owned of the holder of said work, not the bank.
Thats not true man, they where applied
>When Hitler secured power, and coinciding fully with Feder, he rejected Schacht's proposals for Germany to borrow from foreigners and forbade him to continue on that path. He told him that he did not want Germany to live on loan; "The loans tied the country, they cut off their sovereignty."
And that's why he made Schacht the Minister of Economics? Schacht was the Minister of Economics in Nazi Germany government, until he was replaces in 1937 by Goring and the Funk. He was also the president of Reichsbank until 1939.
You are wrong about pretty much everything.
Proof? When was it introduced? Date, name?
>You are wrong about pretty much everything.
Well, he's correct about Germany not being indebted
As soon as Hitler secured power, he forbade Schacht to continue on that path. He told him that he did not want Germany to live on loan; "The loans tied the country, they cut off their sovereignty." and forced him to apply the ideas propossed by Gottfrier Feder.
Schacht confesses in his Memoirs that he was always an enemy of National Socialism, but that he preferred to "work from within the regime because it was the most effective".
>Between 1933 and 1939 the total revenue amounted to 62 billion marks, whereas expenditure (at times comprising up to 60% rearmament costs) exceeded 101 billion, thus causing a huge deficit and national debt (reaching 38 billion marks in 1939 and coinciding with Kristallnacht in November 1938 and with intensified persecutions of Jews and the outbreak of World War II).[6][7] When a large share of Mefo’s five-year promissory notes fell due in 1938, the National Socialist government employed “highly dubious methods” where “banks were forced to buy government bonds, and the government took money from savings accounts and insurance companies,” due mainly to a serious government cash shortage.
Source? I'm asking you again, what is your source?
I can see your huge nose from here.
This is not how Veeky Forums works. Post a source or fuck off. I also can't find this Hitler's quote anywhere.
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Discurso de Hitler el 1 de mayo de 1927, citado en: Toland, J. (1976). Adolf Hitler. Garden City, N.Y.: Doubleday Speech, pág. 224
↑ Carsten, Francis Ludwig (1982). The Rise of Fascism. University of California Press, pág. 137.
↑ M.Y. Sweezy. 1940.
↑ Nationalsozialismus und Landarbeiterschaft, München, 1930.
↑ p. 5.
↑ p. 44.
↑ Bauernstand und Nationalsozialismus, München, 1931.
↑ Mein Kampf.
↑ P. Schwerber, Nationalsozialismus und Technik, München, 1932, pág. 25-
↑ pág. 47.
↑ A B C des Nationalsozialismus', 1933, Berlín.
↑ Der Deustche Staat, p. 129.
↑ Véase también sobre esta materia la monografía de H. Buchner, Die goldene Internationale. Vom Finanzkapital, Tributsystem und Trägern, München, 1931.
↑ John Kenneth Galbraith, Memorias. Ed. Grijalbo.
Hitler's speech on May 1, 1927, cited in: Toland, J. (1976). Adolf Hitler Garden City, N.Y .: Doubleday Speech, p. 224
Carsten, Francis Ludwig (1982). The Rise of Fascism. University of California Press, p. 137
M.Y. Sweezy. 1940
Nationalsozialismus und Landarbeiterschaft, München, 1930.
Bauernstand und Nationalsozialismus, München, 1931.
Mein Kampf
P. Schwerber, Nationalsozialismus und Technik, München, 1932, p. 25-
↑ p. 47
A B C des Nationalsozialismus', 1933, Berlin.
Der Deustche Staat, p. 129
See also on this subject the monograph by H. Buchner, Die goldene Internationale. Vom Finanzkapital, Tributsystem und Trägern, München, 1931.
John Kenneth Galbraith, Memories. Ed. Grijalbo.
What is this garbage? I'm asking about dates and laws, not this shit. Post citation from these books. What is interesting, however, is how most of these Hitler's speeches and citations are from before Hitler became a chancellor (1920, 1927, 1930, 1931, 1932...).
Imagine being this BTFO
>At their simplest, MeFo bills were bills of
exchange. They were issued by the industrial company Metallurgische ForschungsAnstalt (Metallurgical Research Institution). But this company was a dummy corporation, cobbled together by Schacht and German heads of industry with a capitalization of only 250,000 Reichsmarks (RM). The MeFo corporation would fund rearmament projects by issuing these bills of exchange, which contractors could discount for RMs at private banks. These banks were willing to hold MeFo bills because the Reichsbank, Germany’s central bank, guaranteed to re-discount them. To further entice investors, MeFo bills carried an interest rate of 4%, which was higher than that of other trade bills at the time. To make sure that the bills were never exchanged for RMs, which would lead to inflation, the ninety-day maturation period for the bills kept being extended until the actual maturation period became five years.
I guess it works if you plan to go to war to pay it back. 10/10 economy.
Ebin meme xD
So he secured power in 1939?
>that debt in the nazi economy where abolished
it was hidden through book-cooking.
...
>It's not debt if it's promissory notes
I guess moneylending wasn't debt either
>Why do people bring up this book as evidence
Because they're brainlets looking for any sort of confirmation bias.