1931: Debt, Crisis, and the Rise of Hitler By Tobias Straumann

Tobias Straumann Ñ 3 summary

Germany's financial collapse in the summer of 1931 was one of the biggest economic catastrophes of modern history. It led to a global panic, brought down the international monetary system, and turned a worldwide recession into a prolonged depression. The German crisis also contributed decisively to the rise of Hitler. Soon after the crisis, the Nazi Party became the largest party of the country which paved the way for Hitler's eventual seizure of power in 1933. The reason for the financial collapse was Germany's large pile of foreign debt denominated in gold currency which condemned the government to cut spending, raise taxes, and lower wages in the middle of a worldwide recession. As the political resistance to this austerity policy grew, the German government began to question its debt obligations, prompting foreign investors to panic and sell their German assets. The resulting currency crisis led to the failure of the already weakened banking system and a partial sovereign default. Hitler managed to profit from the crisis, because he had been the most vocal critic of the reparation regime. As the financial system collapsed, his relentless attacks against foreign creditors and the alleged complicity of the German government resonated than ever with the electorate. Sadly enough, Germany's creditors hesitated too long to take the wind out of Hitler's sails by offering debt relief. In 1931,Tobias Straumann reveals the story of the fatal crisis, demonstrating how a debt trap contributed to the rapid financial and political collapse of a European country, and to the rise of the Nazi Party. 1931: Debt, Crisis, and the Rise of Hitler

A handy vade mecum for navigating the worlds of Trump, Brexit and the Wizards of ERG. 1931: Debt, Crisis, and the Rise of Hitler Few people will understand the bank crash of 1930s. No one how bad it was in Germany also central bankers didn't get the problems in Europe. I am not sure would be almost so bad in after ten years in the great crash now. The hatred in countries and indifference is every 1931: Debt, Crisis, and the Rise of Hitler I cannot fault the actual book. It manages to shine light on an incredibly under studied period. However, I own the audiobook. The narrator is absolutely terrible. Lacks gravitas and doesn't do the book any justice, making it quite a boring listen. The only 1931: Debt, Crisis, and the Rise of Hitler I found this a very absorbing and easy to understand narrative of the complex events of 1931. I would certainly recommend it to those who want to find out about this momentous period in Europe's history. 1931: Debt, Crisis, and the Rise of Hitler Accurate and insighful on the slow descent of Germany into Nazism. How a financial crisis grew out of control and destabilised a country into a future that nobody could see. 1931: Debt, Crisis, and the Rise of Hitler


Una ricostruzione storica degli accadimenti che hanno lentamente ed inesorabilmente portato Hitler al potere.Oltre ad essere molto ben scritto, il vero merito dello storico è essere riuscito pienamente a contestualizzare i fatti di quel 1931, rendendo molto semplice per il lettore la comprensione dei meccanismi che hanno determinato gli eventi.Imbarazzante la similitudine con le dinamiche politiche internazionali in corso oggi.Motivo in più per leggere questo libro. 1931: Debt, Crisis, and the Rise of Hitler This book is a must read not only for the light it sheds on the ill fated Brüning chancellorship but for the warnings it provides for us in our current conjuncture. A vicious austerity foisted on Germany by its creditors' demands, the collapse of American capital flowing into Europe with the 1929 crash and the onset of the Great Depression and the political intransigence of the creditor countries to do the sensible things all contributed to the delegitimation of the liberal German republic and help lay out the welcome mat for Hitler and 'extreme' solutions. 1931: Debt, Crisis, and the Rise of Hitler Provides insight into how a great nation devolved into dictatorial chaos with emphasis on the contributions of foreign nations and cautious politicians. 1931: Debt, Crisis, and the Rise of Hitler This is an excellent book on the national financial crises in Germany occurring in late 1929 1931. I thought the sub title Debt, Crisis, and The Rise of Hitler is only partially correct: almost all the book discusses debt and crisis with only a few words every now and then describing Hitler's reactions (usually via quotes from his speeches) and commentaries on the Nazi's gains in representation in the Reichstag.The book discusses in great detail the economic punitive effects of the Versailles Treaty. It also discusses the failed efforts of the Dawes Plan and the Young Plan to paper over the fundamental problems. Essentially, the Plans called for the US to loan Germany money to pay the Versailles reparations to France, Britain, Belgium et al. as well as partially fund it's own budget and stimulate its economy. It couldn't work in the long term and it didn't.The book especially describes the financial crises that Chancellor Bruning (1930 1932) had to deal with and the impossible situation he was in.The best book ever written on the economic stupidity of the Versailles Treaty is, of course, The Economic Consequences of the Peace by John Maynard Keynes and originally published in 1919. It's only 168 pages and is written in lay terms, so you don't need an economics degree to understand it. It is well worth reading, maybe before you read this book. 1931: Debt, Crisis, and the Rise of Hitler Wirklich Spaß zu lesen, Ein Buch, das man in die Hand nimmt und dann nicht mehr loslassen kann. Geschrieben mit Verständnis der historischen Realität des Young Plans und seiner unvorhersehbaren Folgen. 1931: Debt, Crisis, and the Rise of Hitler