Word: schacht
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...Schacht, then President of the Reichsbank and famed for his success in stabilizing the German mark in 1924 at its present gold value, predicted catastrophe if U. S. and other foreign loans continued to pour into Germany, did what he could (not much) to stem the flood...
Consistently, as often as Agent General of Reparations S. Parker Gilbert prophesied that Reparations could be paid, Dr. Schacht prophesied that they could not & would not be paid. (German Reparations were virtually canceled by the Allies themselves at the Lausanne Conference last year...
...best brains of the Governments' banking systems of the world met in 1930 to complete the Young Plan, prophesying that it would work in statements so unequivocal that $300,000,000 worth of Young Plan Bonds (German Government 5½%) were eagerly bought by the world public, Prophet Schacht resigned as President of the Reichsbank to emphasize his prophecy that the Young Plan would not work...
...recently as last November, when President von Hindenburg refused to ask Adolf Hitler to form a Government, Prophet Schacht said, "There is only one man who can be Chancellor at this period and he is Adolf Hitler. If Hitler does not become Chancellor now, he will within four months" (TIME, Dec. 5). Herr Hitler became Chancellor and virtual dictator exactly 66 days later...
...residence of Prophet Schacht is now once again on the fourth floor of the red brick Reichsbank Building in Berlin's Jäger-Strasse. Dr. Schacht walks up & down the four flights between home & office...