Schacht hjalmar biography of barack gas

A supporter of Hitler , he was rewarded with the position in March , just 2 months after Hitler was appointed Chancellor. Schacht did not come from an economics background as would befit a man who was to be put in charge of the main bank of Nazi Germany. After high school in Berlin, Schacht studied medicine at Kiel, German philosophy at Berlin and political science at Munich.

It was only after this that he studied for a doctorate in economics at Berlin. After his years of studying, Schacht started work for the Dresdner Bank in and became a deputy director in Schacht worked under the command of General von Lumm and it was von Lumm who dismissed Schacht when he found out that Schacht was using the Dresdner Bank to channel national bonds worth million Belgium francs that were used to pay for requisitions.

While this could have hindered any potential advance in the banking world, it turned out to be no more than a blemish. In , he was appointed director of the National Bank of Germany at the age of Schacht did what he could to socially advance himself and while publicly professing that he was a monarchist, he helped to found the German Democratic Party.

As a senior German banker, Schacht had to deal with the hyperinflation of which wiped out the savings of very many people in Weimar Germany.

Hjalmar Horace Greeley Schacht was well known as a vicar of Bray in the turbulent world of interwar German politics and economics.

He was officially the Currency Commissioner for Weimar Germany. His secretary of the time later said that while he was trying to broker deals to drag the republic out of the financial mess it was in, he worked very long hours, barely ate and left his office just in time to catch the last tram home. However, Schacht resigned in March because he did not agree with the terms of the Young Plan.

While he had been in favour of the Young Plan in its original form, he objected to the final version that he believed was being imposed on Weimar by the Americans as opposed to being negotiated by both parties. Schacht was primarily concerned at the growing foreign debt that had been created by the Weimar government.