Newsgroups: alt.revisionism Subject: Holocaust Almanac: Warburg & the Nazis Archive/File: holocaust/germany/nuremberg schacht.001 Last-Modified: 1994/03/05 "For Hjalmar Schacht and other apologists for Hitler, the Kristallnacht marked a bitter end to rationalization. For years Schacht had proclaimed that the disabilities imposed upon the Jews were for their own benefit. After the passage of the Nuremberg Laws, Schacht told President Roosevelt's personal emissary: 'I called Mr. Warburg [a leading Jewish banker] in to see me the other day and explained to him the protection Germany now guarantees to Jews; they can engage in their businesses from now on and will have proper governmental protection. I told Mr. Warburg to have his people stop making a noise and accept this protection.' (NCA, EC 450, Report of Dodd-Schacht-Fuller Conference.) Such statements now having been given the lie, Schacht, who unlike so many others retained at least a measure of integrity, told Reichsbank personnel at a Christmas party: 'The deliberate burning of Jewish synagogues, the destruction and looting of Jewish businesses, and the ill-treatment of Jewish citizens was such a wanton and outrageous undertaking as to make every decent German blush with shame.' On another occasion, he remarked to a woman dinner companion: 'My dear lady, we have fallen into the hands of criminals. How could I have known this?'(IMT, vol. 12, p. 562)" (Conot, 175) This text clearly suggests that Mr. Warburg had attempted to use his perceived financial influence upon the Nazi government to assist German Jews. Alas, little mention of the gentleman exists in Conot, who, however, sheds further light on possible reasons why Warburg and others may have provided investment funds for the German government*: "As long as Schacht had been economics minister, his policy of keeping communications open had paid off to the extent of even convincing Jewish bankers to continue participation in the floating of Reich bonds. But now the break was complete. So Schact, whose Reichsbank was desperately short of funds, became engaged in an attempt to trade Jewish emigres for money. In December 1938, he met George Rublee, the representative of the Jewish American Joint Distribution Committee, in London. Schacht proposed, and Rublee tentatively agreed, that 150,000 Jewish men in the work force should each be provided with an immigration loan of ten thousand marks raised by American and British Jews -- a total of 1.5 billion marks. A considerable part of this loan would be spent in Germany, and so provide the government with foreign exchange. Germany would sequester the property of the departing Jews and repay the loan over a period of twnety-five to thirty years from the proceeds." (Ibid., 175-176) Conot mentions the family in conjunction with von Papen: "Descended from landowning gentry, Papen had at one time been a professional army officer, and was a cousin of the famed Jewish-Gentile, German-American Warburg bankers." (Ibid., 113) Work Cited Conot, Robert E. Justice at Nuremberg. New York: Harper & Row, 1983 Abbreviations: IMT. International Military Tribunal, Trial of the Major War Criminals; the published transcipts of the trial. NCA. Nazi Conspiracy and Aggession, the 10-volume compendium of the prosecution's agruments.
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