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 How the West Can Beat the Continuing Recession

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John V Asia Teacher
John V Asia Teacher

PostSubject: How the West Can Beat the Continuing Recession   15.03.18 14:01

How the West Can Beat the Continuing Recession

The recession won’t fix itself, nor will international socialism with its command economies and a continuing reliance on government to provide for its populations. That this continues suits the bankers, the corporations and the politicians themselves and forms a large part of the anger which lies behind today’s politics. There is something intrinsically wrong in a society where workers struggle to earn a living wage, whilst those setting rules grow wealthy from the result of labour tax to pay their own inflated salaries.

Once upon a time, someone came up with the answer and it came from a surprising source.  

"The Nazis came to power in 1933 when the German economy was in total collapse, with ruinous war-reparation obligations and zero prospects for foreign investment or credit. Through an independent monetary policy of sovereign credit and a full-employment public-works program, the Third Reich was able to turn a bankrupt Germany, stripped of overseas colonies, into the strongest economy in Europe within four years, even before armament spending began." - Henry C. K. Liu, "Nazism and the German Economic Miracle." Asia Times (May 24, 2005).

The Background

The British historian Clive Ponting estimates that nearly a million Germans died of starvation between 1918 and 1919 as a result of a deliberate blockade policy by the allies in an effort to force Germany to sign the Versailles Treaty, which intentionally reduced Germany to a debt and poverty from which it could never normally recover. Had the Versailles Treaty been more favourable and the forces of International banking not been allowed to plunder Germany, it is arguable whether Hitler could have risen to power.  

By the 1930s, post-war repatriations from the Treaty of Versailles and the liberal Weimar Republic left Germany an economic basket case. Democracy split the vote into dozens of political parties and therefore any resulting government became weak and ineffective. In 1932 during the elections, which resulted in Hitler becoming Chancellor in 1933, the unemployment number averaged six million, nearly one third of the workforce. One year later unemployment dropped to half that and five years later to 302,000, dropping in the intervening successive years by large amounts. Leaving aside the war years, there can be no doubt that during Hitler’s early years the German workers enjoyed a prosperity unknown throughout the western world, whilst at the same time British George Orwell wrote about the almost Dickensian conditions in, "The Road to Wigan Pier" and Steinbeck in the US with, "The Grapes of Wrath."

The current explanation of the low unemployment German figures is militarization, yet prior to conscription in 1935, employment reduced from 6 million to 2.9 million. Moreover, this was at a time when the great depression still wreaked havoc across western democracies.

"I have watched with understanding and interest the progress of your great and superhuman work in regenerating your country." Lord Rothermere.

The same occurred in Austria and following Germany’s economic policies after its annexation in 1938, leaving American historian Evan Burr Bukey to state, "One of the most remarkable economic achievements in modern history."

So how did Germany do it? How can a country evolve from nothing to the richest country in Europe within five years and become an ‘economic miracle’?

The German State issued its own currency, (treasury certificates), thereby removing third party manipulation and International financiers from the equation, unlinked to the value of gold owned by the international banks. Furthermore, money loaned without interest by the State, minus usury (interest), prevented outside manipulation and internal speculation.

This goes against current economic theory which states that currency to finance debt be borrowed against gold owned by private banking cartels like the US Federal Reserve, or the Central Bank of Europe, rather than provided by government. As the currency was national, rather than international, the economy relied on a barter system, exchanging goods for goods and removing need for international finance.

The ‘New Deal’ – Removing International Finance

As he became Chancellor, Hitler promised the population to judge him on his actions, rather than words:

"Within four years, unemployment must be decisively overcome […] The Marxist parties and their allies have had 14 years to show what they can do. The result is a heap of ruins. Now, people of Germany, give us four years and then pass judgment upon us!"

The German State put people to work under a ‘Work Creation Program’, including former criminals, in public work schemes. The whole population worked and the work-shy put into camps – crime fell massively and as people earned they spent, further fueling the economy. Meanwhile in the US, FDR in his first (1933) and second (1935) ‘New Deal’ did exactly the same by providing public works, which brought results, albeit at a slower pace as he was also fighting a system of international bankers, whom he termed ‘the forces of organized money’ and it was a rearmament program that finally enabled western democracies to beat the depression.

"Germany's unforgivable crime before WW2 was its attempt to loosen its economy out of the world trade system and to build up an independent exchange system from which the world-finance couldn't profit anymore […]" - Winston Churchill (The Second World War - Bern, 1960).

In less than a century the western world returns to debt slavery and penury as the radical and socialist elites with their command economies, globalization and quantitative easing once again run riot across countries. Collapsing economies such as Portugal, Spain, Ireland and Greece borrow from the European Central Bank (ECB), on conditions stated by the International Monetary Fund (IMF), which does not encourage economic growth, but enough to provide continuing welfare poverty for its populations to stop a revolution, yet producing a debt so great that it sends countries near bankrupt to pay back the interest on the loans.

"Germany issued debt-free and interest-free money from 1935 on, which accounts for Germany's startling rise from the depression to a world power in five years. The German government financed its entire operations from 1935 to 1945 without gold, and without debt. It took the entire Capitalist and Communist world to destroy the German revolution, and bring Europe back under the heel of the Bankers." - Sheldon Emry, "Billions for the Bankers, Debts for the People", (1984).

Beating the recession -  An example in modern times

In 2008, Iceland, perhaps the largest hit of all European nations, found itself in a huge recession. Going against the advice of international banking theories, austerity measures and bailout money and throwing out the IMF representatives, it temporarily defaulted on its debts, let the banks collapse and jailed 26 bankers from offences ranging from market manipulation to embezzlement.

"The theory that you have to bail out banks is a theory that you allow bankers enjoy for their own profit, their success, and then let ordinary people bear their failure through taxes and austerity. People in enlightened democracies are not going to accept that in the long run." Iceland President, Olafur Grimsson.

The IMF recently admitted that Iceland is now a booming economy and has repaid its debts.


"Let me issue and control a nation's money and I care not who writes the laws." - Mayer Amschel Rothschild, Banker.

The west fights the economic recession with one hand intentionally tied behind its back. As the manipulators, speculators and International financiers ravage the west, all governments can do is try to prop up the collapse with more borrowing. A National Socialist dictatorship or an international financial dictatorship, yet it needn’t be extremes, but until western governments can find the collective strength and a leader to fight the international banking system on their behalf, nothing will change.

Further reading:

The Allied Attempt to Starve Germany in 1919
How Hitler Tackled Unemployment and Revived Germany’s Economy

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