Money

“From the deluge is born a new world, while the Pharisees whine about their miserable pennies! The liberation of humanity from the curse of gold stands before us!” – Dietrich Eckart

Money has been described variously as a medium of exchange, a measure of value, a store of value, and a method of deferred payment. However, a National Socialist economy strictly defines money as a measure of productivity. In Hitler’s words, “If a farmer should ask me what is the value of the goods that he produces, I should reply, the value of the work that they enable a town labourer to do.”

Such a definition of money necessarily rejects the backing of currency by gold, silver or any other physical material. Material-backed currency by definition submits itself to dependence on the quantity of the material in existence, and to entanglement with currencies of other economies backed by the same material. For example, a currency backed by gold would find its unit value changing as a result of a new gold mine being discovered, even if the gold mine were located in Israel another country! This is unacceptable to a National Socialist state which insists on total monetary independence, and on foreign trade by barter only. Between 1933 and 1936, National Socialist Germany’s gold reserves decreased from 937 million to 72 million Reichsmarks, the difference having gone to purchase raw materials of real economic value from a labour perspective; in that same period unemployment was wiped out.

Labour-backed currency alone precludes any shortages or excesses of money in circulation, as the quantity of money in circulation would never have any justifiable reason to be other than directly proportional to the quantity of production within the country. What happens in other countries henceforth becomes economically irrelevant to a National Socialist state. Conversely, a National Socialist state can never be plausibly blamed by other countries for manipulating their economies, as it has explicitly relinquished all means by which it could do so. Like the Neolithic Aryan subsistence farmer who grows all his own food and to whom gold coins are a meaningless idea, so a National Socialist economy that attains what Hitler called “national subsistence” can feel confident about its economic future and earn the trust of others in a way that the gold-bound states can never know.

“What each of us receives must first have been produced by another; no one can receive more than the others have produced. Thus the problem of currency is no artificial one, but merely a question of production, a question of the organization of work and of the distribution of the results of work.” – Adolf Hitler

Furthermore, a National Socialist economy must be one that prevents monetary gain through lease or financial speculation of any kind, which is always reducible to the Jewish idea of profit by possession, the principle behind usury whose mathematically certain conclusion is concentration of all money in the economy under the ownership of the usurers. The advantage of a labour-backed currency in this case is that it prevents usurers from disguising their gains behind inflation or other temporal distortions. In a National Socialist state, identification of usurers will be a trivial matter of spotting non-producers who are able to remain solvent.

“How could money multiply itself?” – Alfred Rosenberg

“The essential cause of the stability of our currency was to be sought for in our concentration camps. The currency remains stable when the speculators are put under lock and key.” – Adolf Hitler

The principle that labour should only be employed where necessary in a National Socialist economy completes our understanding of the role of its money. This strictly rejects any use of labour in the production of unnecessary commodities or of any commodity in excessive quantities. The people’s primary concern is assisting in the ennoblement of themselves and others, not producing commodities with which to derive maximum pleasure. A National Socialist economy does not merely oppose excess and espouse moderation, but opposes the very core of consumerism, thereby espousing frugality in all aspects of daily life as an Aryan virtue in its own right.