jan 1, 1933 - Hitler appoints Hjalmar Schacht as Reichsbankpresident

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Hjalmar Schacht is a pillar of the international gold standard orthodoxy. He was an avid supporter of full economic integration, but now he abandoned these ideas and thought that the best way for Germany was the separation from the world's market (autarky).
This was coherent with the wave of economic nationalism that was sweeping through Europe, especially in countries that had international debt and thus were net debtors.
A wave of democratic ideology & willingness to commit to international economic integration was sweeping through countries that were net creditors.

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