Confessions of the Old Wizard: The Autobiography of Hjalmar Horace Greeley Schacht offers a fascinating and candid account of one of the most enigmatic and influential figures in 20th-century European finance and politics. Known as "the Old Wizard" for his financial acumen, Schacht played a pivotal role in stabilizing the German economy during the interwar period and later became a controversial figure due to his involvement with the Nazi regime.
In this compelling memoir, Schacht recounts his remarkable career, beginning with his early life and education, which shaped his economic philosophy and pragmatic approach to fiscal policy. He provides a firsthand account of his tenure as President of the Reichsbank and Minister of Economics, detailing his efforts to combat hyperinflation, revive the German economy, and negotiate reparations after World War I.
Schacht also addresses his uneasy relationship with Adolf Hitler and the Nazi leadership, offering insights into his disagreements with their policies and his eventual dismissal. His reflections on the trials at Nuremberg, where he was acquitted of war crimes, provide a unique perspective on one of history's darkest periods.
With a mix of self-reflection, historical commentary, and personal anecdotes, Confessions of the Old Wizard sheds light on the complexities of Schacht's life and legacy. It reveals the intricate interplay between economics, politics, and morality during times of national and global upheaval.
This autobiography is an essential read for those interested in economic history, the dynamics of power, and the moral dilemmas faced by individuals in positions of influence. Schacht's narrative offers a rare glimpse into the life of a man who shaped—and was shaped by—the turbulent events of his time.