Hjalmar Schacht

Dr. Hjalmar Horace Greeley Schacht (born January 22, 1877 - died June 3, 1970 at age 93 years) was a German financial expert and Minister of Economics from 1935 to 1937.
After receiving a doctorate in economics, Schacht employed by Dresdner Bank, where he became deputy director in 1908. From 1916 to 1923 he served as director of the German National Bank. On November 1923 he was appointed as commissioner of finance and a month later, the president of the Reichsbank. In this position he helped to stabilize the German financial.


After 1924 he played a key role in negotiating improvements German war, but stopped in 1930 due to disagreements with the government of the Weimar Republic. Exile of the Weimar government's economic policies pushed Schacht into politics. He helped introduce to the leader Adolf Hitler and the financial industry and plays a key role in influencing President Paul von Hindenburg to appoint Hitler as Reichskanzler in 1933.


As a reward for his help, re-appointed Schacht as president of the Reichsbank (1933-1939), was appointed as Minister for Economic Affairs (1935-1937), and plenipotentiary for the economy of war (1935-1937). Schacht became the central figure in the national socialist rearmament. Conflicts of jurisdiction by Hermann Wilhelm Göring, and disagreements over economic policy making Schacht back gradually. He remained a minister, but he was involved in the July 20 Plot to assassinate Hitler, and consequently he held until 1945.

After the Nuremberg Tribunal Schacht release of all charges, he was tried and convicted by a court denazifikasi for 8 years in a labor camp. He was released in 1948. Exempt from charges related to its activities during the Third Reich, Schacht started a successful second career in 1950 as the economic and financial consultant for the Third World.