Hitler & Dear Leader, similar
“ Hitler’s rumored plans to oust the Reichsbank chief came amid a massive purge of the Weimar Republic’s civil service. Senior officials who had served for decades were fired. Hitler assigned his chief lieutenant, Hermann Göring, to clean house in Prussia, the largest of Germany’s 17 federated states. When Göring entered the Prussian government offices in central Berlin, he told Rudolf Diels, the head of the Prussian political police, “I want nothing to do with the scoundrels sitting here in this building.” When Diels tried to defend one senior colleague, Göring responded by firing the colleague on the spot.
A memorandum was circulated to all state civil servants demanding blind loyalty to the Hitler government. Anyone who did not feel they could support Hitler and his policies, Göring added, should do the “honorable” thing and resign. The Berliner Morgenpost observed that Hitler was clearly working to “transform the state bureaucracy from the most senior positions down to the administrative levels to align with his political positions.” In a speech on March 11, Göring compared the Nazi’s draconian measures to cutting wood: “When you chop, chips fly.”
Despite Hitler’s heavy-handed assault on the government bureaucracy, he could not touch Hans Luther. According to a 1924 law, the Reichsbank was independent of the elected government; the Reichsbank president served at the discretion of a 14-member board, which included seven international bankers and economists. Even Reich President Paul von Hindenburg, the ultimate constitutional authority, possessed the power only to confirm the appointment of the Reichsbank president, not to dismiss him. The Reich president headed the state and commanded the military, and the Reich chancellor ran the government, but the Reichsbank controlled the currency and the economy.
Luther brandished his independence and power with confidence and control. He had already served as finance minister and had also done a stint as chancellor. He understood both politics and economics. In 1923, Luther had designed the rescue plan that saved Germany from the inflation crisis that saw Germans pushing wheelbarrows full of cash through the streets to buy a loaf of bread. After the global market crash of 1929, he had guided Germany back to employment stability and production growth by the spring of 1932. Great Britain emerged from the crisis with twice the national debt of Germany. France’s was fourfold. The New York Times reported that Luther had “stood like a rock” amid the global financial turmoil. The newspaper Vossische Zeitung described Luther as “equal to any storm.”
It ended for Germany in much the same way Trump's assault on the Fed's independence could here, with help from the Supreme Court.”
From The Atlantic, link below
Julie Bolejack, MBA
