I.Q. of Famous People

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Hjalmar Horace Greeley Schacht

Born: 1877
Died: 1970
Nationality: Germany
Description: President of the Reichsbank / Nazi Officer
IQ: 143
Hjalmar Horace Greeley Schacht, who was born in Tinglev (now in Denmark) on January 22, 1877 and died in Munich on June 3 in 1970. He was a German financial, president of the Reichsbank (1924-1930, 1933-1939) and Minister of the Economy of the Third Reich (1934-1937).

After a career in private banks, Schacht helped reduce inflation and stabilize the mark when he was the currency Commissioner of the Reich at the end of 1923. He became president of the Reichsbank, at the request of Friedrich Ebert, president of the Republic, and Gustav Stresemann. He contributed to the development the Young Plan ( a second re-negotiation of the Treaty of Versailles), intended to reduce the war reparations which Germany has to pay after the First World War. But because of major disagreements on the implementation of this plan with the coalition government of Hermann Müller, he resigned from the Reichsbank in March 1930.

He then argued with Chancellor Heinrich Brüning (Zentrum) and got closer to the NSDAP between 1930 and 1932 without joining the Nazi party. A few months before the accession of Adolf Hitler in power, he helped the Nazi Wilhelm Kepler to organize a petition calling for industrialists asking President Hindenburg the appointment of Hitler as Chancellor. In power, Hitler named Schacht president of the Reichsbank, then Minister of the Economy in 1934. As minister, he developed a mercantilist policy. As president of the Reichsbank, he organized the insolvency of Germany towards the outside and the financing of major projects and then German rearmament. Among his most spectacular creations, there are MEFO coupons that the State used to pay the armament industries.

In January 1937, Schacht was awarded the gold Medal of Honor at the party. He resigned in November 1937 because of disputes including the importance of military expenditures, which are creating inflation and confrontational relations with Hermann Göring. He kept his post as head of the Reichsbank until 1939 and was minister without portfolio until 1943.

Accused of being involved in the attack on July 20, 1944 against Hitler, Schacht was interned in various concentration camps (including Dachau and Ravensbruck) until the end of the war. Liberated by the Allies, he was among the defendants of the Nuremberg trials where he was accused of common plan or conspiracy and crimes against peace, for his contribution to prepare the German economy to the war. Among the accused, he obtained the best results in IQ tests (143) prepared by the psychiatrist of the prison. He was acquitted and released in 1946, but was again tried by several German Denazification courts from 1946. If the first of them was sentenced to eight years of hard labor, others have classified him as category 5 (released for facts of resistance). Released in 1948, his Denazification was completed in 1950.

From that date, he becomes financial advisor for developing countries. Within the Federal Republic of Germany, he is kept out of power by Konrad Adenauer, but had an activity as regular lecturer for the conservative Bavarian party, the CSU.

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