How to Pronounce Hjalmar Schacht
#50
Most Popular
Boost
Jan 22, 1877 Tinglev, Region of Southern Denmark, Denmark Died on 03 Jun 1970 (aged 93)
German politician
AquariusHjalmar Schacht - Place of Birth, Date of Birth, Age, Wiki, Facts, Net Worth, Birthday, Biography and Family
Hjalmar Schacht, Date of Birth, Place of Birth, Family, Facts, Age, Net Worth, Biography and More in FamedBorn.com
About Hjalmar Schacht
- Hjalmar Horace Greeley Schacht (22 January 1877 – 3 June 1970) was a German economist, banker, centre-right politician, and co-founder in 1918 of the German Democratic Party.
- He served as the Currency Commissioner and President of the Reichsbank under the Weimar Republic.
- He was a fierce critic of his country's post-World War I reparation obligations. He was never a member of the National Socialist German Worker's Party, but served in Adolf Hitler's government as President of the National Bank (Reichsbank) 1933–1939 and became Minister of Economics (August 1934 – November 1937).
- While Schacht was for a time feted for his role in the German "economic miracle", he opposed Hitler's policy of German re-armament insofar as it violated the Treaty of Versailles and (in his view) disrupted the German economy.
- His views in this regard led Schacht to clash with Hitler and most notably with Hermann Göring.
- He was dismissed as President of the Reichsbank in January 1939.
- He remained as a minister without portfolio, and received the same salary, until he was fully dismissed from the government in January 1943.In 1944 Schacht was arrested by the Gestapo after the assassination attempt on Hitler on 20 July 1944, because he allegedly had had contact with the assassins.
- Subsequently, he was interned until the end of the Third Reich in the concentration camps Ravensbrück and later at Flossenbürg.
- In the last days of the war, he was one of the 134 special and clan prisoners who were transported by the SS from Dachau into the "Alpine Fortress" to Niederdorf in South Tyrol, where they were freed on 30 April 1945.Despite this, he was tried at Nuremberg, but was fully acquitted. In 1955, he founded a private banking house in Düsseldorf.
- He also advised developing countries on economic development.
