Posted by Socrates in economics, economy, Germany, gold, gold & silver, Hitler, money, Nazi era, Nazis, Socrates at 7:20 pm | Permanent Link
An interesting thread at VNN Forum. While I fully understand the logic behind private citizens owning gold, I also find it curious that Hitler didn’t need gold to keep Germany strong . Today, many rich elites own gold and they can raise or lower the price of it by buying or selling it at certain times, just like they manipulate, say, oil prices. That’s just food for thought.
 Hitler’s Germany had an economy based on what could be called “the work standard” rather than “the gold standard.” Money was backed by production. Labor, not gold, was the most valuable commodity Germany had. (As someone pointed out, labor is more valuable than gold). Germany had full employment within 4 years of Hitler coming to power, a truly remarkable feat. Contrast that to America, which was still mired in the Great Depression with millions of people out of work