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Schacht objected to continued high military spending, which he believed would cause inflation, thus coming into conflict with Hitler and Göring. In 1937 Schacht met with Chinese Finance Minister Dr. H. H. Kung. Schacht told him that "German-Chinese friendship stemmed in good part from the hard struggle of both for independence".
Apr 5, 2024 · Hjalmar Schacht was a German banker and financial expert who achieved international renown by halting the ruinous inflation that threatened the existence of the Weimar Republic in 1922–23. He also served as minister of economics (1934–37) in the National Socialist government of Adolf Hitler.
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When Schacht criticized Nazi rearmament and financial policy, Hitler fired him as president of the Reichsbank. Schacht also withdrew from other public roles, but remained Reich Minister without Portfolio until 1943. The following year, he was taken into custody in one of the mass arrests following the July 20, 1944, attempt on Hitler’s life.
Dec 16, 2014 · Hjalmar Horace Greeley Schacht was Adolph Hitler’s moneyman, and for six crucial years he formulated the dictator’s economic program. At the time, Schacht was Germany’s most famous and respected financier because he had broken the country’s hyperinflation of 1923, one of history’s worst.
Hjalmar Schacht (1877–1970) was Minister of Economics and General Plenipotentiary for the War Economy until 1937 and Reichsbank (national bank) president until 1939. Superceded by Hermann Göring in economic affairs, he remained as Minister without Portfolio until 1943.
When Schacht criticized Nazi rearmament and financial policy, Hitler fired him as president of the Reichsbank. Schacht also withdrew from other public roles, but remained Reich Minister without Portfolio until 1943. The following year, he was taken into custody in one of the mass arrests following the July 20, 1944, attempt on Hitler’s life.
Hjalmar Schacht's political role has always been a subject of dispute and controversy - with one exception: for decades there had been widespread agreement that Schacht had opposed Nazi antisemitism, in particular that he had prevented the expulsion of the Jews from the German economy.
