In addition to commissions identical to those Haʻavara‐PALTREU charged to funds deposited in Sonderkonto I (4% to cover the organization’s own costs and 2% to cover the exchange commissions charged by the Anglo‐Palestine Bank), funds deposited in Sonderkonto II were charged an additional 9% commission, which was used to accelerate the pace at which the organization was able to pay out funds to immigrants arrived in Palestine.9
Investment targets had to be approved by either the German Consul in Jerusalem or the Wirtschaftsministerium (Ministry for Economics). Despite the difficulties encountered, this international investment scheme produced a powerful influx of private capital into the Palestinian economy and virtually created the Palestinian trade in securities. A fledgling stock exchange was first established in 1935.10
[…]
(3) German Exports to Other Middle Eastern Countries. Another solution for the excess of cash deposits over export transactions was to enlarge the field of prospective importers of German goods by marketing those goods to buyers outside Palestine. Exports other than to Palestine were not part of the original remit of Haʻavara‐PALTREU, as delineated in August 1933.
As early as 1934, however, the Haʻavara board decided to establish a branch in Syria, using the K. A. Zilkha bank, a private Jewish bank based in Beirut, as an agent for Haʻavara. 12 On March 7, 1935, Hans Hartenstein of the Wirtschaftsministerium approved the use of Marks worth up to 65,000 Pounds Sterling, taken from the monies deposited in Sonderkonto I, to pay for German exports to Iraq.13
Haʻavara established a subsidiary called NEMICO, short for the Near and Middle East Commercial Corporation, for the purpose of selling German goods in Syria, Iraq and Egypt, so as to speed up the pace in which deposits were released to immigrants arrived in Palestine.
[…]
(5) Land Purchase with Haʻavara Monies. Another use found for monies deposited in the PALTREU bank accounts was the purchase of land in Palestine from its Arab owners for use in the construction of Zionist settlements, including settlements of immigrants from [the Third Reich] (whose settlements Zionist organizations referred to euphemistically as “middle class settlements”).
In such cases, monies deposited in Sonderkontos I or II were allotted to clearing companies other than Haʻavara‐PALTREU itself, such as RASSCO, short for the Rural And Suburban Settlement Company. These companies paid the monies allotted to them directly to purchasing organizations, often the Zionist movement’s principal land purchase arm, the Jewish National Fund.16
[…]
(9) Analogues: Haʻavara from Poland, Czechoslovakia, Hungary, Romania.
Finally, the success of Haʻavara — bringing 52,000 Jews and more than 9 million Palestinian Pounds to Palestine — stood in stark contrast to the dearth of other immigration opportunities with which European Jews were faced. While attempts were made to establish Haʻavara mechanisms for other European countries — Poland, Czechoslovakia, Hungary and Romania — and while fledgling transfer mechanisms were in fact established for the first two, the sums transferred through these mechanisms were relatively insignificant.
(Emphasis added.)
Cheers to PalestineRemembered.com for showing me this.
Click here for events that happened today (March 27).
1895: Erich Abraham, Axis major general, existed.
1933: As the Empire of Japan officially withdrew from the League of Nations, the Third Reich’s Enabling Act, which gave the Reich’s head of state nearly dictatorial powers, came into effect. (Coincidentally, 55,000 civilians staged a protest against Berlin in New York City.)
1938: Imperial troops began to enter the town of Tai’erzhuang in Shandong Province; Chinese troops forced the Imperialists to fight for every block.
1939: The Imperial Japanese 101st Division captured Nanchang, Jiangxi Province, China.
1941: General Dusan Simovic and other anti‐Reich officers overthrew the pro‐Axis government in the Kingdom of Yugoslavia, placing Regent Prince Paul with King Petar II and intending to back out of the Tripartite Pact. Upon hear the news, the Fascist bourgeoisie ordered an invasion of Yugoslavia; the Reich’s foreign ministry prepared messages to the Kingdoms of Hungary, Bulgaria, and Italy for them to join in partitioning Yugoslavia. On the same day, five hundred Luftwaffe aircraft dispatched for the Kingdoms of Bulgaria and Romania. Because of all this, Berlin postponed Operation Barbarossa. That aside, the first transfers of prisoners out of Oflag IV‐C camp at Colditz Castle in the Reich took place; the Axis moved twenty‐seven Polish officers to Oflag VII‐B in Eichstätt, Germany. Imperial Foreign Minister Yosuke Matsuoka met with Fascist Foreign Minister Joachim von Ribbentrop in Berlin. (Ribbentrop purportedly noted to Matsuoka that the Axis intimidated Imperial America and thus Washington would not enter the war even if the Empire of Japan joined in to strike at British possessions in Asia.) In the afternoon, Matsuoka met with the Reich’s head of state. Apart from all that, the Axis lost 6,500 combatants at the Battle of Keren, and Oberleutnant zur See Helmut Pöttgen of Axis submarine U‐46 fell overboard and was lost. Axis spy Takeo Yoshikawa also arrived at the U.S. Territory of Hawaii aboard the passenger liner Nitta Maru, under the guise of a diplomat.
1942: Axis propaganda chief Joseph Goebbels wrote in his diary regarding the deportation of Jews: ‘a fairly barbaric process is utilized. Of the Jews themselves, not much remains.’ Likewise, the deportation of French Jews to Auschwitz commenced, and Axis rocket scientist Walter Dornberger proposed production plans and the building of a rocket launching site somewhere on the coast of the English Channel.
1943: Axis tanks stopped the British offensive at El Hamma, Tunisia (but New Zealand troops had successfully secured territory south of the town).
1944: SS troops massacred all Jewish children under the age of thirteen in Kovno, Lithuania… sigh… well, apart from that, Vichy allowed its citizens to join the German SS, and the Axis attacked the Broadway site of Operation Thursday in Burma as the Imperial Japanese 58th Regiment launched an all‐out attack on Sangshak, India.
1945: An Axis counterattack from Frankfurt towards Küstrin barely got out of the city. Heavy cruiser Lützow, destroyer Z43, and other Axis ships began shelling Soviet positions on the coast of the Danzig Bay, and another Axis V‐2 rocket hit Ilford, London. It was to be the last rocket to strike this suburban district of London. By now, Axis rockets slaughtered 117 Ilford residents and seriously injured 349. Another V‐2 rocket hit Hughes Mansions, Stepney, London, massacring 134 and injuring 49.