Tuesday, April 19, 2016

State Power, or something else? (quote starts at 6:00 in:)

I have often thought that our economies should have crashed thru the floor several years back, either because of declining net energy, or the debt burg. Yet, here we are, limping along, with very little blood in the streets...  

"Now many people, particularly the economic experts, believed that by the end of 1938 the Nazi economic policies would fail. We all, myself included, underestimated what could be achieved through state power; through pay freezes, through price freezes, through exchange controls, and
though the use of concentration camps. It lasted longer than one would have thought."* - Johannes Zahn, Economist & Banker since 1931, on the situation of a looming, second German hyperinflation due to loans taken out to rearm Germany.

The Nazis - A Warning From History, Episode 3 Part 2