View Single Post
Old 06-12-2018, 04:40 PM   #33
st jimmy
Senior Member
 
Join Date: May 2016
Location: Amsterdam, Netherlands
Posts: 2,299
Likes: 1,499 (899 Posts)
Default

Mefo bills

I’ve even looked at neo-Nazi sites for information on WW II.
Neo-Nazis praise Adolf Hitler as a hero, who was a monetary wizard who made an end of Germany’s problems caused by the Versailles “peace” treaty and fought against the "evil" Jews.

In reality Hitler did not really reform the German monetary system at all.
Gottfried Feder was the one behind Hitler’s very strong anti-usury stance during his rise to power. But already in 1931 Hitler’s industrial backers wanted him to get rid of Feder, who was dismissed and became under-secretary in the Ministry of Economic Affairs.

Germany’s foreign exchange and gold reserves had dropped from 2.6 billion marks in late 1929, down to 409 million in late 1933 and to only 83 million in late 1934.
Hitler and the Nazi part had come to power on 30 January 1933.

Nazi Germany was financed by Mefo bills set-up by Montagu Norman’s buddy, Hjalmar Schacht, in 1932. It weren’t the German people that profited from the so-called economic wonder (rise of the GDP) of Nazi-Germany, but mainly the big corporations (like IG Farben) that in fact plundered the German people.
A Mefo bill was named after the shell company Metallurgische Forschungsgesellschaft (Mefo in short); it was an interest-bearing (4%) promissory note used to pay for war production. Schacht kept the size of the Mefo-bills “secret”.
Suppliers who fulfilled state orders got paid in Mefo bills. The Reich guaranteed all Mefo bills in full. The MEFO bills were almost like interest-carrying money. Banks, savings banks, and firms could hold them exactly as if they were cash.

Nobody could of course see that Germany was preparing for war in violation with the Versailles treaty…
It’s been estimated that in Nazi Germany one third of all government expenditures was spent on the military.
By 1939, there were 12 billion Reichsmark of Mefo bills: https://realcurrencies.wordpress.com...his-own-words/
(archived here: http://archive.is/CNkD7)
__________________
Do NOT ever read my posts.
Google and Yahoo wouldn’t block them without a very good reason: https://forum.davidicke.com/showthre...post1062977278

Last edited by st jimmy; 06-12-2018 at 04:43 PM.
Likes: (1)
st jimmy is offline   Reply With Quote