05/08/2017 (Mon) 04:58:40
December 1940 Berlin, Rheinmetall-Borsig works.
"My fellow countrymen, to take another instance where we are condemned: They claim to be fighting for the maintenance of the gold standard as the currency basis. That I can well believe, for the gold is in their hands. We, too, once had gold, but it was stolen and extorted from us. When I came to power, it was not malice which made me abandon the gold standard. Germany simply had no gold left. Consequently, quitting the gold standard presented no difficulties, for it is always easy to part with what one does not have. We had no gold. We had no foreign exchange. They had all been stolen and extorted from us during the previous fifteen years. But, my fellow countrymen, I did not regret it, for we have constructed our economic system on a wholly different basis. In our eyes, gold is not of value in itself. It is only an agent by which nations can be suppressed and dominated. When I took over the government, I had only one hope on which to build, namely, the efficiency and ability of the German nation and the German workingman; the intelligence of our inventors, engineers, technicians, chemists, and so forth. I built on the strength which animates our economic system. One simply question faced me: Are we to perish because we have no gold; am I to believe in a phantom which spells our destruction? I championed the opposite opinion: Even though we have no gold, we have the capacity for work. The German capacity for work is our gold and our capital, and with this gold I can compete successfully with any power in the world. We want to live in houses which have to be built. Hence, the workers must build them, and the raw materials required must be procured by work. My whole economic system has been built up on the conception of work. We have solved our problems while, amazingly enough, the capitalist countries and their currencies have suffered bankruptcy. Sterling can find no market today. Throw it at any one and he will step aside to avoid being hit. But our Reichsmark, which is backed by no gold, has remained stable. Why? It has no gold cover; it is backed by you and by your work. You have helped me to keep the mark stable. German currency, with no gold coverage, is worth more today than gold itself. It signifies unceasing production. This we owe to the German farmer, who has worked from daybreak till nightfall. This we owe to the German worker, who has given us his whole strength. The whole problem has been solved in one instant, as if by magic."