Word: reichsbanker
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...President of the General Economic Council, Chief of the National Defense Council, Administrator of the Four-Year Plan, Air Minister, Supreme Commander of the Air Force, Prime Minister of Prussia, President of the Reichstag, Reich Hunting Master, Reich Fishing Master. Walther Funk retained his posts as Economics Minister and Reichsbank President, but his jurisdictions were cut, his staff reduced, and final authority transferred to Herr Göring...
Minister of Economics Walther Funk, pudgy successor to Hjalmar Horace Greeley Schacht as president of the Reichsbank, whose tough job it will be to step up German economy to meet its wartime needs...
...Mysterious (few people even knew his name), powerful, grasping, he began to formulate the financial policies of nations and to get fat. At one time he worked simultaneously for the German, Austrian, Czech, Polish, Hungarian, Yugoslav and Rumanian Central Banks. Twice he turned down the presidency of the German Reichsbank, the second time proposed Dr. Hjalmar Schacht in his place. Schacht got the job. He began to buy antiques-among them the valuable Eucharistic Dove stolen from Salzburg's Cathedral. He was too skeptical to have any truck with Ivar Kreuger or any private financier. His was the last...
Schacht to Funk. Even before Hitler the Germans had been forced to experiment with foreign exchange control. With exports falling in 1933, Hjalmar Horace Greeley Schacht, head of the Nazified Reichsbank, first prohibited the transfer of interest on German foreign debts and then evolved a system of control boards to balance imports and exports. Out of these equilibrist schemes grew the blocked currency accounts and the barter devices, with the Germans paying foreign exporters in special marks good only for German goods at a price lower than the internal price level. Boycotts and currency difficulties kept lopping off chunks...
Recent replacement of Schacht by Dr. Funk as Reichsbank head has revived talk in U. S. newspapers of internal German inflation. Proponents of Nazi economic methods argue, however, that "inflation" is a word that has no meaning in relation to Nazi finance. The Nazis have, almost from the beginning, supplemented tax receipts by debt-creation" through forced loans. With the "secret" debt added to the acknowledged public debt of 40,000,000,000 marks, the total Government deficit may be as high as 54,000,000,000 marks. But prices #151;the popular measure of inflation- have not risen markedly...