Word: schachtian
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Dates: during 1940-1940
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...Germany now claims to have something like $2,000,000,000 in gold. If she shipped that here, she would add to our surplus, embarrass us. Instead, she will help us put gold back into circulation by putting her $2,000,000,000 fund into a new European-American ("Schachtian") Bank of Intercontinental Settlements. Protected by this margin, the U. S. can then lend Germany, says Westrick, about $5,000,000,000 in gold. This would come back in payment for German purchases throughout the Hemisphere...
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