In 1934, Reichsbank President Hjalmar Schacht introduced the MEFO bills scheme to fund the German government's rearmament programme. There are various interpretations regarding this scheme, and there hasn't been a decent explanation of how they worked. Some say they were inflationary, while others claim they were not. This video aims to clarify what the scheme was about, how it worked and whether the MEFO bills could be classed as inflationary or not.
The link to the free PDF of Murray Rothbar's "America's Great Depression" https://mises.org/library/americas-great-depression
NOTE: Technically the cause of a recession or depression is the expansion of the currency supply AND the manipulation of interest rates. But I just said inflation caused it to keep things simple, since the inflation policy impacts interest rates. See my "What Causes a Recession or Depression?" video for more details https://youtu.be/X3L0_pjRdcs
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馃摎 BIBLIOGRAPHY / SOURCES 馃摎
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Full list of all my sources https://docs.google.com/spreadsheets/d/114GiK85MPs0v4GKm0izPj3DL2CrlJUdAantx5GQUKn8/edit?usp=sharing
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馃摻️ RELATED VIDEO LINKS 馃摻️
What Causes a Recession or Depression? https://youtu.be/X3L0_pjRdcs
Public vs Private | The Historic Definitions of Socialism & Capitalism https://youtu.be/ksAqr4lLA_Y
Why was Schacht hired then fired? https://youtu.be/mbCpvbaRe_s
The Paradox of Germany’s WW2 COAL Problem https://youtu.be/O3JaxXK25qo
BATTLESTORM STALINGRAD S1/E1 - The 6th Army Strikes! https://youtu.be/YAfo5mse-ag
History Theory 101 https://youtu.be/PvpJEc-NxVc
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ABOUT TIK 馃摑
History isn’t as boring as some people think, and my goal is to get people talking about it. I also want to dispel the myths and distortions that ruin our perception of the past by asking a simple question - “But is this really the case?”. I have a 2:1 Degree in History and a passion for early 20th Century conflicts (mainly WW2). I’m therefore approaching this like I would an academic essay. Lots of sources, quotes, references and so on. Only the truth will do.
This video is discussing events or concepts that are academic, educational and historical in nature. This video is for informational purposes and was created so we may better understand the past and learn from the mistakes others have made.
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