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Posts Tagged ‘Greybacks’

Anthony MigchelsI conducted a special interview with Anthony Migchels of Real Currencies on economics in National Socialist Germany, based on his popular September 16 article, Hitler’s Finances and the Myth of Nazi anti-Usury Activism, on October 20, 2013. Here is the audio.

We discussed:

  • mortgages only up to a maximum of 25% usury-free on the principal
  • the myth of Hitler’s anti-usury efforts
  • German consumers still heavily indebted with usury
  • internal constraints on Hitler, Hitler was anti-usury in his rhetoric before coming to power, different afterwards
  • Hitler as a statist on steroids
  • the official Nazi monetary policy was to serve the state and not the people
  • Confederate Greybacks issued to pay for war that overwhelmingly benefited the <10% minority of slaveholders
  • importance of decentralization of the money supply, no need for any usury (simple or compound interest) on money
  • beware of centralizing or half-measure monetary “reforms”

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