Blood Money - Inside the Nazi Economy | FD Finance
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00:00 Intro
02:13 Part 1: A World War at Credit
As soon as he came to power in 1933, Hitler wanted to go to war. Warfare was central to Nazi ideology; the strong had to crush the weak. To go to war, he needed weapons and an army, but Germany had neither. A far cry from the fake images of prosperity, years of adversity had worn the country down. It was a medium-size power like Iran or South Africa today.
The Nazis launched themselves into an extraordinary operation of financial manipulation and managed to revive the economy by producing enormous quantities of weapons. That was the Nazi economic miracle of the 1935-1936 period: an overheated economy that needed a war to continue its mad race. In 1939, Hitler embarked on a war financed on credit, enormous credit using spoliation and upcoming appropriation as collateral.
46:53 Part 2: An Economy of Death
The resounding German victories of 1940 hid a beleaguered economy. Everything was in short supply: petrol, weapons, raw materials, food, and foreign currencies. They organised wide-scale looting in the countries they invaded. The Nazi war economy was dependent on theft and spoliation.
It would progressively become an economy that relied on plunder.
The assassination of Jewish populations, the horrifying project central to National Socialism, remained a priority, but that had to be adjusted to take food and labour shortages into account.
The Nazis managed to organise their deadly ideological obsessions around their need to produce weapons. The Nazis calculated, planned, and transformed human beings into objects they could exploit at will. Industrial production was adapted. Death became part of the equation. This strong alliance between the regime's worst elements and the weapons industry's engineers shaped a fearsome economic system that allowed the Nazi regime to go on fighting until the country's collapse.
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