30 August, 2006

Important Thoughts, Financial and Economic Advice

Posted by alex in Financial Column, George Lenz, German nationalists, gold & silver at 3:24 am | Permanent Link

I am often asked on the ways German national-socialist economy used to work before the war, and their relevance for modern economic theory. While in the American academy the subject has a near-taboo status because of the jewish domination of U. S. colleges and universities, so as to be either hushed or dismissed, in Europe the subject is discussed more widely, though with references, disassociating authors from the national-socialist ideology. Today I will write on the most important parts of the NS financial mechanism, and how the elements of it can be employed in modern White Nationalist activities.

Two most important features of the NS financial mechanism were stable money and Arbeitswecksel. NS Germany didn’t have much gold or silver, since most of it was taken in reparations, so it had to base its currency on monetary rule: every Reichsmark issued in circulation corresponded to a mark in produced goods and services, which allowed the country to avoid massive inflation, so characteristic of the modern democratic countries, in which fraction-reserve banks often create money to finance non-productive speculation. Another feature of the German NS system was a wide use of Arbeitswecksel: a real bill or interest-free promissory note, with which a producer could pay a supplier, payable after the goods were sold. Arbeitswecksel had to be paid in up to180 days, and if issued in production of goods in accordance with national plans, could have been discounted in Reichsbank (the central bank). These two elements proved to be so successful, as to create an economic boom where a few months before was a depression.

How can American White Nationalists successfully adopt these practices? I think a good idea would be to start issuing our own money, so as to be independent of the jew-controlled Federal Reserve System. I would call it an Aryan dollar (ARD). Because WNs do not face the limitations NS Germany faced in the past, such money should be gold and silver coins, freely minted in accordance with the following weights and measures:

1 once of 18’’ karat gold – 50 Aryan dollars

1/2 once of 18’’ karat gold – 25 Aryan dollars

1/5 once of 18’’ karat gold – 10 Aryan dollars

1/10 once of 18’’ karat gold – 5 Aryan dollars

1 once of 18’’ karat silver – 1 Aryan dollar

1/2 once of 18’’ karat silver – 50 Aryan cents

1/5 once of 18’’ karat silver – 20 Aryan cents

1/10 once of 18’’ karat silver – 10 Aryan cents

On one side there shall be an inscription, indicating nominal e.g. “One Aryan Dollar”, on the other – an edelweiss and an inscription “Magna Europa est Patria Nostra”. Each White Nationalist shall accept these coins at prices for respective quantities of precious metals at http://www.kitco.com/market/, and shall sell it to activists at such prices + 5% seigniorage, seigniorage remaining at the disposal of White Nationalists. Such currency is easily minted by anyone used to working with metals, has significant internal value, and allows users to be independent of jew-controlled racket of paper dollars.

Another thing to use is Arbeitswecksel or real bill. Such interest-free promissory notes with maturity up to 180 days can be used by WN merchants or organizations to pay to WN suppliers of books, CDs, banners or computer services, and then retire them after the goods are sold. They would allow for increase of the number of WN merchants and their assortment of goods; for many of WNs are short of money necessary to start successful selling of WN materials.

The recent arrival of economic data demonstrated once again, that there is a growing hidden inflation, covered up to a point by peculiarities of the U. S. price statistics. Real wages have declined by more than 2% in the last three years, when productivity was growing by around 4% every year. This means that the real inflation rate is between 5 and 6%, as supported by accurate measuring of CPI, WPI, M1 and M2 inflation rates, but only half of the real rate got reported by the federal government. These days I have to compile and prepare for my clients real economic statistics on EU countries, Eurozone, U. S. and selected Asian countries, since the official statistics is becoming less and less useful.

I increased my holdings of INTC (current value 19,6 vs. internal value of 22,3), and changed my recommendation to strong buy. A good target for short selling is AMD (current value 22,4 vs. internal value 8,2). A correction is likely to occur in the next 6 month, so I advise opening a 6 month short position.


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  7. 20 Responses to “Important Thoughts, Financial and Economic Advice”

    1. Bavarian Gauleiter Says:

      Mr Lenz, this is your best post about the subject so far. However, I think you are still thinking in pre-NS terms when you bring up gold. Gold has no value that we assign to it. The only value is labor. This is a central fact of NS ideology. A cave full of gold is simply metal if human beings don’t dig it out and do something with it via labor.

      Further, the NS ecomony was successful unlike anything before or since. In a few years, unemployment went to 0% (and not in the jewish-soviet style of “they pretend to pay us and we pretend to work — things got done). The same was true for the government of Vichy France. Unemployment went to 0% in a short period of time after they adopted NS policies.

      The German economy was so strong (growing 10-12% a year) that it persisted even during the war! Even when the greatest of demands, total war, was made upon it. This is one reason why Germany so quickly rebuilt its infrastructure after the war. Joseph Halow, the author of Innocent at Dachau, said that he couldn’t believe he was in the same bombed out country that he’d been in less than 2 years earliler when he returned for the soviet-style show trials.

      Leon Degrelle explains some of the important steps taken such as Mefo bonds in his article here

      http://www.ihr.org/jhr/v12/v12p299_Degrelle.html.

      Unsere Ehre heißt Treue!

    2. Olde Dutch Says:

      This is a really silly story. So silly, that if you Google the word “Arbeitswecksel”, you will find the origin of the story & the word is— Stormfront. LOL.

      In German it is a fairly common practice to create a word to describe a concept by stringing a few words together. Some Americans of German ancestry do this in English conversation. My guess in the case of “Arbreitswecksel”, the origin of the word has to do with the practice of 6 month dating in some industries. The terms of the bill of sale are made out to be paid in 30 days—6 months in the future.

      The real practice employed by Germany during the national socialist era was closer to this:
      http://en.wikipedia.org/wiki/Mefo_bills

      Also, in order to stop the hyper inflation—H. J. Schacht and another German banker whose name I can’t recall came up with the idea/story that each Mark was a small piece of a mortage on all the land, property, buildings, equipment etc. of Germany. This worked, and the German currency stabalized ending the hyper inflation.

    3. Mati The Estonian Says:

      gold – steel nodifference. but gold just lasts longer then paper. so we can make money out of it. but not in its value but the value stated here – value of labor to but in it. in short – gold is useful to make money.

    4. Donger Says:

      Bavarian Gauleiter Says:

      “The German economy was so strong (growing 10-12% a year) that it persisted even during the war! Even when the greatest of demands, total war, was made upon it. ”

      Nazi please! War ***is demand*** for an economy. No disrespect. But Adolf lost. Socialism is communism. Invented by your enemy Karl Marx. Get over it and move on.

      Bavarian Gauleiter Says:

      “This is one reason why Germany so quickly rebuilt its infrastructure after the war. Joseph Halow, the author of Innocent at Dachau, said that he couldn’t believe he was in the same bombed out country that he’d been in less than 2 years earliler when he returned for the soviet-style show trials.”

      Marshall Plan much? By the way, when are you Nazis going to pay us back for rebuilding Germany? The Jews got theirs with the Holoscam from you. How about us white humps here in the US?

      —-
      Mr. Linder: This is interesting: “I think a good idea would be to start issuing our own money, so as to be independent of the jew-controlled Federal Reserve System.”

      However with gold and silver I believe you’ll find that banks and therefore your enemies the Jew supremacists already contol these.

    5. Shabbos Shabazz Says:

      Marx’s Legacy of Hatred

      By Jim Peron

      It seemed like a plausible thesis: the value of a product is determined by the amount of labour needed to produce it. Yet the idea may well have contributed to the appeal of Nazism and lead directly to the Holocaust.

      Marx was the best known of the proponents of the labour theory of value. In fact much of his economic system is built on this premise. But Marx didn’t originate the idea. Before him David Ricardo proposed it and before Ricardo there was Adam Smith. And if Prof. Murray Rothbard is right then Smith probably adopted the idea from the teachings of John Calvin.

      But Marx and his followers certainly were the main propagandists for the idea that labour produce value. And until the rise of the Austrian school of economics this was the dominant theory of value in Europe.

      To follow this idea to it’s culmination in the Nazi campaign against the Jews we must go back to Marx and his ideas. One hundred years before the Nationalist Socialist regime of Adolph Hitler Marx was writing on what was called the “Jewish Question.” Marx’s anti-Semitism, now well documented, was derived from his economic theories. And his anti Jewish tract makes the connection quite clear.

      For Marx the Jews were not so much a religion, or a race, but a cultural phenomenon. What created Judaism, said Marx, was a desire to seek monetary profits. His polemic stated:

      “Let us not look for the secret of the Jew in his religion, but let us look for the secret of his religion in the real Jew.”

      “What is the secular basis of Judaism? Practical need, self-interest.”

      “What is the worldly religion of the Jew? Huckstering. What is his worldly God? Money.”

      For Marx profit seeking was Judaism and the Jew was the personification of capitalism. They personified evil because they tended to work in finance, retail merchandising, or as entrepreneurs. And in the Marxist theory these professions did not produce value but stole it from the source of real wealth: the manual labourers. The Jewish financier produced nothing in Marx’s view and thus only lived off the exploitation of others. Moreover this, in Marx’s view, was the essence of capitalism. “Money is the jealous god of Israel, in face of which no other god may exist. Money degrades all the gods of man—and turns them into commodities. Money is the universal self established value of all things. It has, therefore robbed the whole world—both the world of men and nature—of its specific value. … The god of the Jews has become secularised and has become the god of the world.”

      This Judaic concept of profit seeking, said Marx, had corrupted the Christian world as well through what he called the “Judaism of civil society” that is the transformation of civil society in a Judaic culture of profit seeking.

      Marx’s tract was a reply to another book dealing with the emancipation of Jews from feudalist laws which restricted their civil and economic freedom. Marx argued that to talk about emancipating Jews was absurd since everyone was a slave to capitalism which was fundamentally the culture of Judaism. The only true emancipation possible was the destruction of profit seeking Judaism and it’s step-child, liberal capitalism. As he wrote: “The social emancipation of the Jew is the emancipation of society from Judaism.”

      Under the feudal structures social mobility was restricted. Jewish merchants and entrepreneurs didn’t exist because laws restricted their ability to trade. But with the rise of Liberal capitalism such laws were disregarded. And those non-Jewish businessman who didn’t succeed resented the success of Jews. Professor Peter Pulzer wrote:

      “Dissatisfaction with the practical consequences of Liberalism was even stronger in economic than in political matters; anti capitalism was, after all, one of the oldest and most natural forms of anti-Semitism. Liberal society was characterised by a high degree of social mobility with a premium on individual worth and ability. Perhaps this pill was the hardest to swallow. All those who had an assured place in an ordered hierarchy, even if it was a comparatively low one, looked with distaste on an order which allowed others to rise to positions of eminence and influence…”

      He also said that “anti-Semitism is anti capitalist since capitalism is one of the causes of social mobility.”

      Building on Marx’s theory the socialists of the late 1800s clearly saw Jews as their prime enemy. And almost without exception the anti-Semitic movements of the era were all variants of socialism. Wilhelm Marr, who some attribute as the man who coined the term anti-Semitic, bragged: “anti-Semitism is a Socialist movement, only in nobler and purer forms than Social Democracy.”

      The ability of the Jews to succeed in business ventures was despised by many in the lower middle classes who themselves had failed at similar ventures. Marx argued that such success was indicative of exploitation and these would-be merchants were all too happy to accept that theory. It certainly was more palatable than the one that said they failed because they didn’t have the necessary abilities.

      Marx said capitalism was Judaic in nature. Later anti-Semites weren’t sure this was true but if it wasn’t the alternative was that Jews had the ability to twist Liberal economic systems to their advantage. As “Die Judenfrage”, an ant–Semite publication, stated: “The doctrine of egalitarian free economics and of corresponding human rights in economics, as they were formulated in a humanely well-meaning way the Scotsman Hume and Smith, were used by the Jews in order to derive from them their monopoly.” The anti-Semite mayor of Vienna, Karl Lueger, said that “only fat Jews can survive the murderous competition of economic freedom. Christian people must be protected from insatiable capitalism.”. The Nazi Adolf Stocker put it this way: “the Jewish questions—always and everywhere—has to do with economic exploitation.”

      Throughout Europe Marx-inspired anti-Semites jumped on the bandwagon. Taking their clue from their mentor they announced that capitalism allowed the Jews to dominate others and that capitalism itself was the manifestation of the Judaising of civil society. Some anti-Semites turned things slightly. For them capitalism, in the form of industrial production, was good while “financial” capitalism was evil. The Marxists denounced the entire system. They both agreed that the Jews were capitalists it was only on the specific details that they disagreed.

      The Marxists even admitted that they had problems keeping their followers away from the neo-Marxist anti-Semites. Karl Kautsky wrote to Friedrich Engels lamenting this fact: “We are having great trouble in stopping our people from fraternising with the anti-Semite.” Later he complained again: “anti-Semitism here, which has recruited a good part of the petter bourgeois—including some very radical elements who had hitherto been with us.” This trend certainly continued right up to, and including, the rise of Nazism. A 1932 Nazi tract for party speakers stated: “We have certainly succeeded in fragmenting the Marxist front and in winning a large number of former Marxists for our world view.” The author noted that since the “German worker absorbed Marxism in his parents home” these “former Marxists are already National Socialists” who need only abandon Marxist materialism for the spiritual values of Nazism. “They need to be persuaded of German idealism, of the principle that ‘the common good goes before the individual good.'”

      The National Socialism of Hitler fit in quite well with the dominant views of Marxist thinking on the “Jewish Question”. For the Nazis the Jews were also the personification of Liberal Capitalism. They were also seen as exploiters who lived off of the labour of real workers. In 1932 Joseph Goebbels wrote a propaganda tract for the National Socialists that played up all of these themes.

      His booklet made it clear that the Nazis had no interest in “maintaining a rotten economic system that has nothing to do with nationalism, which is an affirmation of the Fatherland. I can love German and hate capitalism. Not only can I, I must. Only the annihilation of a system of exploitation carries with it the rebirth of our people” He argued that the National Socialists “had to make clear to the man of the left that nationalism and capitalism, that is the affirmation of the Fatherland and the misuse of its resources, have nothing to do with each other, indeed that they go together like fire and water, then even as a socialist he will come to affirm the nation… Socialism will become reality when the Fatherland was free.” He stated: “The Jews are the incarnation of capitalism.”

      The Nazis adopted Marx’s view of capitalism and they accepted the socialist belief that the Jews were the personification of capitalism. Add to their anti-Semitism and socialism the ingredient of nationalism and you have the essence of the Nazi movement. Hitler’s nationalism was a response to the burdensome and unfair mandates imposed on Germany by the Versailles Treaty. With Germany being intentionally humiliated by the Allies the German people were ready for a nationalist movement. But Hitler’s secret of success was that he built his nationalism on a foundation of Marxist economics and socialist anti-Semitism both of which were widely accepted by the German people.

      The Nazis played up the concept of value being created by labour. Goebbels wrote: “A man becomes a man through labour. It elevates him, makes him great and aware, raises him above all other creatures. It is in the deepest sense creative, productive and culture-producing. Without labour, no food. Without food, no life.” The Nazis said the Jews could not produce a culture but only exploit one created by others through labour. Marx said something similar: “Judaism could not create a new world: it could only draw the new creations and conditions of the world into the sphere of its activity, because practical need, the rationale of which is self-interest, is passive and does not expand at will but finds itself enlarged as a result of the continuous development of social conditions.” The socialist Pierre Proudhon agreed: “The Jew is by temperament an anti producer, neither farmer nor an industrialist… He is an intermediary, always fraudulent and parasitic.”

      The Nazis, like the Socialists before them, looked at the success of the Jews as proof of their evil intentions. The fact that Jews were successful was a constant note in Hitler’s symphony. But it wasn’t unique to them as shown by these remarks from Mark Twain, almost 60 years earlier:

      “In Berlin a few years ago, I read a speech which frankly urged the expulsion of the Jews from Germany, and the agitator’s reason was… that eighty-five percent of the successful lawyers in Berlin were Jews, and about the same percentage of the great and lucrative business of all sorts in Germany were in the hands of the Jewish race! Isn’t it an amazing confession? It is was but another way of saying that in a population of 48,000,000 of whom only 500,000 were …Jews, eighty-five percent of the brains were lodged in the Jews… The man claimed that in Berlin, the banks, the newspapers, the theatres, the great mercantile shipping, mining and manufacturing interests… were in the hands of the Jews. Here in Vienna last summer, an agitator said that all these disastrous results were true of Austria-Hungary also; and in fierce language he demanded the expulsion of the Jews. When politicians come out without a blush… in this frank manner, unrebuked, it is a very good indication that they… know where to fish for votes. …His [the Jew’s] success has made the whole human race his enemy.”

      The Nazis rode on the coat tails of Marx and anti-Semite socialists. They only changed the appeal by adding some coarse nationalism to the brew. The proof that the Jews were exploiting workers was shown in their success. The Left-wing lexicon today still assumes a stagnant pie where the increase in the wealth of some comes at the expense of others. Under socialism there is no wealth creation just wealth redistribution. This idea is still found in the current anti-globalisation movement.

      The fact that a tiny number of Jews dominated certain profession was proof that they, in fact, controlled the arms of government. It was assumed only government intervention can allow people to succeed so the Jews, by succeeding, proved they controlled government. Any disproportionate representation of Jews in a profession was proof of the Jewish conspiracy. And the Nazis had the statistics to prove disproportional representation. The Nazi propaganda brochure “Why Aryanisation?” stated: “The motto of this work is: Let the numbers speak.” The numbers were the percentage of Jews in various professions. In 1935 the Nazi Institute for the Study of the Jewish Problem published a book “The Jews in German” which was a catalogue of how Jews were more successful than Gentiles. Thus when the Nuremberg laws were passed Hitler could justify them by claiming that the “legislation is not anti Jewish, but pro-German.”

      The academic success of Jews was the reason that Nazism dominated the universities before it worked its way into society in general. Since a disproportionately large number of Jews qualified for university the Nazis demanded that quotas be imposed and that Jews be excluded from university to make room for students with lower academic standards. The British ambassador to Germany wrote at the time: “It is only natural that the academic youth of this country should bitterly resent the success of the Jews… The anti-Semitic Nazi party comprises in its rank most of the academic youth of this country for that very reason.”

      The Jews could never be good Socialists, said Hitler, since socialism “is entirely alien to the Jew. The Jew will always be the born champion of private capital”. Hitler said the basic drive in the Jew was toward “Manchester liberalism” or laissez faire capitalism. The African-American Marxist W.E.B. DeBuois wrote a series of newspaper articles on Nazi Germany during a visit there. He wrote: “Germany today is next to Russia the greatest exemplar of Marxian socialism in the world…”

      The Nazis never tired of lamenting the success of Jewish entrepreneurs. And they bolstered their case by returning over and over to the Marxist concept of manual labour.

      The labour theory of value was regurgitated by the National Socialist repeatedly to justify their attacks on Jews. Hitler in a speech to the Reichstag warned in 1939: “The Jewish race will have to adapt itself to productive work as other nations do, or sooner or later it will succumb to a crisis of inconceivable magnitude.”(187) When the Nazis unleashed thugs to attack Jews the idea of labour again reared its ugly head. Historian Alan Bullock quoted a description of one such incident: “SA men dragged an elderly Jewish worker and his wife through the applauding crowd. Tears rolled down the cheeks of the old woman… I could see how the old man… tired to stroke her hand. ‘Work for the Jews. At last, work for the Jews,’ howled the crowd. ‘We thank our Fuhrer, he has made work for the Jews!’.”

      But this hearkens right back to the Socialists of the previous century. As Pierre Prodhoun said: “The Jew has remained a Jew, a parasitic race, enemy of work, devoted to financial speculation and bank usury.”

      The Nazi house of horrors was built with bricks manufactured by Marxists. The entire anti-Semitic movement of Europe of that era was built on Marx’s labour theory of value and its derivative: that entrepreneurs, speculators, bankers, etc. exploit the workers and steal a portion of the value they create for themselves. Hitler was always an opportunists and like most opportunists he used what was provided to him by others. He never really manufactured his own ideology at all. His socialism came from Marx. And he took his anti-Semitism from a large collection of varied socialists whose vicious anti Jewish rhetoric would later make Hitler look like a moderate. He adapted this Left-wing agenda with a dose of nationalist fervour which became popular as a response to the humiliation forced on the German people by the Allies after World War I.

      Hitler’s nationalism was a reaction to the times and circumstances of Germany after World War I. But the heart and soul of his movement was forged in the previous century and the blacksmith was Karl Marx.

      http://www.liberalvalues.org.nz/index.php?action=view_article&article_id=265

      (The article is amazingly right, and amazingly wrong. The issues raised are of crucial import. It could be discussed for 5 years, or more)

    6. New America Says:

      Shabbos Shabazz cited the Jim Person article, and said, in conclusion:

      “(The article is amazingly right, and amazingly wrong. The issues raised are of crucial import. It could be discussed for 5 years, or more)”

      In reply:
      The article is overly long, overly verbose, and remarkably off-point for our discussion.

      That having been said, among Marx’s many intellectual failures – like the Talmud, he says much, and always to an evil end – provided the intellectual foundation for STATE capitalism – Communism, and the idea that the people were mere chattels in State service.

      The National Socialist model was remarkably at variance with Communism on so many levels that their similarities are few; their differences, in practice, represent the dead hand of Newtonian physics masked as economic theory – Marx – and the triumph of “Human Action” – National Socialism. In the NS model, the economy was to serve the people, and not vice-versa.

      Let’s make this clear:

      Marx’s labor theory of value failed because, among other reasons, it is an ABSOLUTE theory of labor value.

      National Socialism, on the other hand, acknowledges that labor adds value, but acknowledges that a pricing system that allows for market clearing prices MEASURES that value most accurately for the purpose at hand.

      I am not saying that Schacht, et. al., were all carrying little yellow pencils and waving copies of “Free to Choose” in their hands; they recognized that the economic system MUST serve the political system, and BOTH must flow organically out of the nature of the nation – the people.

      Thus, the Jews in Israel have not been able to make a National Socialist economy work in over fifty years; their system would collpase (from wholesale theft, among other reasons) absent the exogneous factor of American support.

      Bill White is starting a journal of National Socialist thought; perhaps the Peronists would like to submit an analysis and critique of Peron…

      New America

      An Idea Whose Time Is HERE!

    7. unbeirrbar Says:

      Absolutely. The true value of everything is in the labor used to produce it. Gold is just a metal,as paper money is just paper. Btw nice finding Shabbos Shabazz i bookmarked it.

    8. Olde Dutch Says:

      National socialist economics as practiced in Germany during the Hitler era was Keynesian economics. Matter of fact John Maynard Keynes was so impressed with what Hitler was doing he dedicated the German edition of his book to Hitler!

      Keynesian economics is free market economics—with strong government intervention when markets fail, or are failing.

      Now here’s a shock for you blight wingers & republicoons: FDR also practiced almost the same identical Keynesian economic policies as Hitler!

    9. Carpenter Says:

      It’s amazing what you can sell to a WN by applying a cool name to it. You can sell the idea of gold money by calling it One Aryan Dollar, or … you can sell fiat money by calling it “based on a nation’s labor,” which sounds so strong and cool, but it’s still just the government printing plain ol’ fiat money.

      Fiat money and gold are both equally worthless, so whatever. What matters is if you have a healthy economy behind that currency. To use a currency as a quick fix is nothing new – gold standard! No, the EMU! No, national currency! No, gold again!

      It has little to do with the real economy.

    10. New America Says:

      Carpenter makes an excellent point.

      When you are developing economic models, money is a comparatively recent development. Remember, we must distinguish “money” – an abstract concept – from “currency” – the most commonly accepted fungible good.

      Remember, there is ALREADY an alternative currency available, a silver based currency called “NORFED” (or there WAS, if memory serves). As well, the HOURS concept (see Ithaca HOURS).

      Indeed, what NSDAP Germany did (among other wonderful things) was to free the German people from the economic tyranny of the Jew-imposed Versailles treaty. This allowed the organic outflowing of their creative skills – remember, we are the CREATIVE race! – in a stable, positive cultural environment, in which the economic system SERVED the politcal system.

      Thus, the working people, and their collective enterprises, were rewarded for their efforts, rather than have the profits expropriated, as is the case in our situation.

      Indeed, if memory serves, the British refused to allow German cruise ships to dock at British ports; these cruise ships were staffed by workers who build the ships, and other workers on their annual vacation…

      This stunning symbolic refutation to the Jew-controlled, internally collapsing economy of Britain was simply an intolerable sight to the Jew-controlled British government…

      Hitler’s musings on the economy, incidentally, are in “Hitler’s Table Talk”; his thoughts on the autarchic society and the use of hydropower for electrical power generation mark him as the brilliant, humane, ecologically sound visionary he was…

      New America

      An Idea Whose Time Is HERE!

    11. David Prospero Says:

      The article that Shabbos S linked was interesting reading. At first it appeared to be quite a well thought out argument until about a third of the way through when it became increasingly repetitive.
      In a nutshell, Person’s contention was that Hitler was preoccupied with the jews based on the writings of Marx and established National Socialist policy primarily based on this apparent obsession.
      This of course is absolute rot! Hitler may have read Marx but quite simply had first hand experience of the way the jews had brought Germany to it’s knees, and they like the preverbial parasite thought they had a nest for life. Their corruptness, avarice and nepotism was not somethiong they took time to hide.(much the same way they flaunt their arrogance today)
      Hitler having identified this scourge early on, took sweeping measures to remove them physically from the economy and government postions they’d weaseled themselves into over the previous two decades, as soon as he gained power . The result was instant improvement to the general German populace, the economy and the wellbeing of the German society. No longer did Germans have to look through jewish blinkers. The jews were then more or less left to fend for themselves. The wealthy decided to emigrate. The poorer ones were left to their own means.
      In fact one could contend that Hitler in leaving them alone and forbidding any revenge attacks (he personally was greatly angered at the German attacks on jews and their property even issuing directives that it was to be stopped and the jews to be protected) magnanimously waited for the jews to prove him wrong and endeavor fit into his National Socialist plan. Some did and were rewarded within the German Reich with notable positions. Vice Marshall of the Luftwaffe Milch was a jew, and there were numerous other high ranking persons who were jewish.
      The declaration of war by world jewry in 1933 was the turning point in the way jews were being ignored. There now became a necessity to identify the enemy (wearing the star of david) which culminated through further wqorld jewry agitation against Germany’s prosperity with the need to remove this group form Germany proper. Hence we had holding camps built in the east to house the jews until negotiations would see them moved to a fitting homeland. It was the Zionists who refused to negotiate with Hitler’s government that led to the starvation and death of these people who should be blamed for their demise.
      Person has correctly identified the jew for what he is towards any society. He is way off the mark in prosposing Hitler followed Marx hook line an sinker because of some singular obsession with persecuting the jews…..but what else could one expect from a Liberal.

    12. ftwainth Says:

      Herr Bavarian Gauleiter, thank you for your insightful comments. My choice of gold and silver is determined by practical considerations: White Nationalist Movement is too weak to issue credible paper money, and gold and silver are the money of choice of American patriots. So it’s more practical to start issuing gold and silver coins as a way to make ourselves independent from the jewish – controlled FRS, as the source of revenue and an important propaganda tool, and then, as the Movement grows stronger, switch to paper money, if necessary. As for the results of NS economy, they indeed are excellent, and there is much to learn from this experience.

    13. ftwainth Says:

      2 Carpenter

      I wouldn’t agree with you here, Mr. Carpenter. Money is life-blood of the economy, and sound money makes a necessary pre-requisite for a healthy economy. There are two types of it: commodity money (gold and slver) and rule based paper money (issued in accordance with pre-agreed rule). Both work well, if applied correctly. The choice of a particular system depends more on specifics of particular economy and preferences of th governingn economic team. Personally I am biased in favor of gold and silver, but paper money can do nearly as well, should our Movement settle for paper money at the end.

    14. Celtic Warrior Says:

      An interesting article. WN need to be concerned with economics but the greatest productive treasure that White people own is….. their genes.

    15. ftwainth Says:

      2 Olde Dutch

      The concept of Arbeitswecksel (real bill) goes back to Adam Smith to Jenkins and List to Feder. It was Herr Feder who proposed it first as the way to save German industry from exploitation by jewish bankers in his manifest “Against Interest”, and developed the idea further in his “Against High Finance”. Mr Schacht was put in charge of mechanics of applying the idea in practice, and Mefo bonds was one of the way the concept of Arbeitswecksel functioned in NS Germany with excellent results.

    16. Shabbos Shabazz Says:

      We all all agree that fractional reserve and counterfeiting is evil.

      If interest is paid voluntarily (on non fractional money), how can it be evil? Why would a borrower voluntarily screw themselves?

    17. New America Says:

      Brother Shabazz makes an interesting point, and calls for a National Socialist solution.

      Shabobos Shabazz said:
      *snip*
      If interest is paid voluntarily (on non fractional money), how can it be evil? Why would a borrower voluntarily screw themselves?

      in reply:
      Interest, as currently modeled in our financial economic system, is inherently inorganic because it is purely mechanical – rain or shine, come what may, interest works relentlessly to claim ever greater portions of (projected) future income, AT NO RISK TO ITSELF.

      ALL of the RISK is borne by the borrower.

      The National Socialist alternative?

      Partnerships.

      Entity attorneys will tell you there are all manner of risk management vehicles available, from family limited partnerships to limited liability corporations, which can be used creatively to manage risk, while safeguarding the forms used to hold title to the assets under consideration, including the risk capital.

      This area of law gets REALLY complicated, REALLY quickly.

      Incidentally, this entire area might make a good topic for Bill White’s “Journal of Theoretical National Socialist Studies.”

      New America!

      An Idea Whose Time Is HERE!

    18. ftwainth Says:

      2 Comrade Shabbos Shabazz

      Basically, the idea of prohibiting usury and limiting interest is based on the nature of money as 1) not giving any increase, if left in natural state in comparison to other economic resources 2) not fulfilling any specific human need, but only facilitating fulfillment of other needs 3) devoid of loss or spoilage of internal value, characteristic of other goods or services if unsold. Basically, a seller of money/capital can put any price on it, and wait for the buyer, while sellers of other goods and services. has to adjust prices in anticipation of loss of internal value of a good. Also, as Comrade Steele correctly stated, interest is demanded, no matter whether a borrower invested it with profit or not, putting all of the risks on the borrower, while requiring significant and disproportionate compensation from him for the use of money. This is the economic rational behind prohibition of usury and limitation of interest in White socities. There is also legal rational behind it: preventing fraud. I am amazed how many hard working and decent White men are easily talked into signing unfavourable loan conditions. Last week I had consulted a young family who took up 2000 euro consumer loan at 12.99% APR, because they were told that for the first 6th months the rate would be 0%. They could get the similar loan at the bank at 7,5% APR, but they were attracted to this 0% condition. I got it canceled eventually, but they should have examined all the optons in the first place. Strict interest regulation would not allowed the usurers to charge such rates in the first place.
      A different thing is, that under honest money, one sufficiently low ceilings on the interest could suffice. Perhaps limiting interest by a single 6% per annum ceiling would be more efficient in comparison to putting separate interest rate ceilings for different classes of assets. But further research under such conditions is required to establish what works best.

    19. Giles Says:

      Such revolutionary new ideas- you must be a genius…

      Gold and silver coins. Amazing the Aryan intellect how it shines forth! Who could have ever thought of such a radical new prospect. It’s not as though people have been using gold and silver for money for, I dont know, the last 6000 years or so… but you outsmarted us all, haven’t you- I never ever did hear of using gold or silver for money and until you put your idea into practice there are no other gold or silver coins ALREADY minted and circulating, stamped and sealed. Nope, that just doesn’t exist. You must be Jewish actually, you are so smart.

      Same for the accounts receiveable bills- no one ever did that before either. They can’t now be sold to a bank or other financier at a discount ALREADY- that doesn’t exist either. Its not as though that’s the VERY NATURE of the existing system, and all hitherto existing systems…No, not at all.

      Its really astounding a Jew didn’t think of this first. Maybe they aren’t so clever after all.

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