The currency wasnt backed by nothing like the weimar currency, or like the federal reserve note. It wasnt backed by precious metals. It was backed by labour. Labour hours I believe.
I'm not a scholar on the subject, but I believe that the currency issued, based on labour, is what brought the german people out of their "economic/ power bondage".
I so not know the exactly how the system operated, but that is a great question that deserves some looking into.
I'm not to keen on the overall idea of facism except as a knee jerk reaction to rebound from bolshevik nonsense. I separate the economic system the Germans had then from the socio/political because the economic system is interesting to analyze on it's own. That economic system may be useful in different situations, like now currently for example; if we chose to do away with the federal reserve note. It is a useful tool during transitions in power struggles of the sociopolitical flavor.
The Austrian economists have a lot of interesting ideas as well. Von Mises, Hayeck come to mind.
I hope we figure something solid out for the progenys sake.
(post is archived)