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In 1938, Nazi officials stripped the Warburg name from a Hamburg bank.
At the same time, another Warburg was embedded inside the architecture of the American financial system.
This episode investigates how one banking family helped design the operating system of modern money—and why that system outlived empires, republics, and dictatorships.
From merchant banking in Hamburg, to German war finance, to the creation of the Federal Reserve, the Warburg story reveals a quieter form of power:
• Design the rules of credit
• Build institutions labeled “independent”
• Become indispensable to every regime
They served the Kaiser.
They navigated Weimar.
They were persecuted by the Nazis.
They returned after the war.
And the central banking system they helped shape became the backbone of the world’s reserve currency.
This isn’t a story about conspiracy.
It’s a story about incentives, institutions, and survival.
Same playbook. Different century.
No transcript available for this episode.

The Jeremy Ryan Slate Show

The Jeremy Ryan Slate Show

The Jeremy Ryan Slate Show