Schacht, Mefo Bills and the Restoration of the German Economy 1933-39 (2013)
In addition to this Schacht took advantage of the clearing system that existed (and basically still exists) and allowed other countries’ exporters to send Germany raw materials in exchange for claims on the German clearing house. Here is the Nuremberg prosecutor making a far more savvy economic argument than many modern commentators manage in their lifetime,
How did Schacht dare to take what must have seemed to others to be enormous policy risks by bending both the domestic and international monetary system to the will of the Nazis? Schacht’s ‘New Plan’ for the foreign sector of the German economy was enormously successful and probably contributed significantly to the low inflation in Germany in those years noted above.