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Word: schacht (lookup in dictionary) (lookup stats)
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...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 Jewish-owned bank allowed to do business...

Author: /time Magazine | Title: Foreign News: Post-War Story | 8/21/1939 | See Source »

...which all but made Rumania an economic dependency of the Third Reich. Forty-four-year-old Dr. Wohlthat was a wanderlusty young man who sought his fortune in the U. S. and Mexico, married a German girl living in Philadelphia, was recalled to Germany in 1933 by Dr. Hjalmar Schacht, the German financial wizard who was then beginning to steer the Third Reich into the economics of barter dealing and autarchy. Helmuth Wohlthat quickly rose in power and position until he became Field Marshal Hermann Göring's chief foreign exchange expert. Since last year he has controlled...

Author: /time Magazine | Title: POWER POLITICS: Smoke and Fire | 7/31/1939 | See Source »

Lazard Brothers & Co. of London is Aryan and aristocratic, a member of the Bank of England coterie, helps back the appeasement movement in London, favors the theory that concessions to Hitler will bring Dr. Schacht and his orthodox economics back to Berlin. It has a highly lucrative and increasingly important sideline in helping frightened European capitalists put their money into good safe American dollars. On the receiving end of this flood of gold from Europe is Lazard Freres of Manhattan, not entirely Aryan, not a Wall Street insider, still correspondent (but no longer a partner) of the highly political London...

Author: /time Magazine | Title: BANKING: Insider from Overseas | 7/3/1939 | See Source »

...Germany there is a cynical saying that Schacht has managed to doublecross all save two of his intimates: one of the two is Hitler; the other is Jeidels. Schacht gave Jeidels the high sign in time for him to leave Germany with his family before the great pogrom of 1938 began...

Author: /time Magazine | Title: BANKING: Insider from Overseas | 7/3/1939 | See Source »

...twenties Jeidels, as boss of Germany's No. 1 investment bank, the Berliner Handels Gesellschaft. was one of Schacht's closest cronies. No chain store bank with a branch on every other street corner was the Handels Gesellschaft. Only the biggest of big businesses were its customers, and they went to it in Berlin...

Author: /time Magazine | Title: BANKING: Insider from Overseas | 7/3/1939 | See Source »

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