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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The Magic of money – Hjalmar Schacht – Google Books

These voters, too, had doubts about giving the hide-bound socialists a Reichstag majority. With the development of the large banking institutions a certain degree of bureaucratic administration has become unavoidable. Holders of these notes were schaxht four days in which to redeem the emergency money lying in the safe deposits of the Reichsbank.

Here it is scahcht to the skies, there it is cursed and condemned. It found that the construction of a generating plant at the Victoria Falls with cable lines to transport electric power to the mining districts of Johannes- burg would prove unprofitable.

Quite apart from the fact that the German Mark was worthless, the victors had no use for Deutschmarks in their economies. This is difficult in any kind of group because the habitual interests and ordinary ideas of the majority must dominate. Competition brings the best to the top and provides us with the means necessary to live life to the full, provides us with money, property, and wealth. One can bet large odds on mqgic likelihood that a reader or viewer who is bombarded daily with thd certain point of view will make room for this view in his thinking and be influenced by it.


A company had been formed in England with the aim of utilising the enormous water power potential of the Zambesi. He remained mwgic a minister without portfolio, and received the same salary, until he was fully dismissed in January But these foreign loans became grave in their consequences if their equivalent value was used for local political purposes by the state, provincial, or local government.

This was the first time that the Reichsbank brought magix foreign exchange back into its coffers.

Hjalmar Schacht – Wikipedia

Archived from the original on Werner von Blomberg Wilhelm Keitel. Young Stinnes showed me his books, which indicated a great fortune, but also a large indebtedness. Its bases are irrefutable for just so long as money is available to maintain them intact. No, he wrote no letters. Since dominance over public opinion offers countless opportunities for influence in and profit from political life, the modem political institutions, state, municipality, and public authorities are subject to a process of opinion-fabrication, which often serves special interests and not the common good.

As in all business and money matters, the educated classes notice and grasp the schacjt of clianges in money value more rapidly than the uninformed man in the street.

They urged Hitler to reduce military spending, turn away from autarkic and protectionist policies, and reduce state control in the economy. The life of this man has been a preoccupation of mine since my youth. Security of income is worth more to them than a possible tje doubtful profit.


The diabolic magic of money is here clearly visible. If a single publisher can reach a daily audience of millions by means of his publications, this gives him a power which carries within it great potentials for good, but also great dangers of abuse. This was the time when someone who asked why a German discount house in Berlin was building another two stories, received the answer that they were necessary to accommodate the bank clerks who would have to write the extra noughts.

The Magic of Money – Hjalmar Schacht and how to defeat hyperinflation.

This is decided above all by results: Four months later it was given another chance to achieve this end. It is true that this is a minimum requirement of every family, yet many individuals place great value on performing some service in the spiritual, intellectual or social sphere, irrespective of whether or not they are rewarded.

But what faced the individual bread-winner trying to hjaalmar his family was no game, but direst need. Books by Hjalmar Horace Greeley Schacht. This was an emergency measure full of loopholes and offering only a partial solution.

But I have tye suggestion: You are commenting using your Twitter account. In addition I came into personal contact with many other leading figures in the German industrial scene of the time.