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This Jewish victory culminated in the well-known inflation of the German currency in 1923. The Austrian Jew Hilferding, finance minister and controller of the minting of currency, is presented as the man responsible for this inflation.

Amid this tremendous turmoil, the Nazi column marched on 9 November 1923 to the Feldherrnhalle in Munich, where the movement to preserve the German race began.

The solution of the Jewish question in the National Socialist program

Hitler stated in his program that the Jews were intruders in the country and possessed only the rights of foreigners. They were no different from Englishmen, Frenchmen, Italians, Spaniards or even Black people residing in Germany. Whether they were Zionists from Palestine, Jews friendly to France or Poland, or others, was all the same to Hitler and the Nazis and did not concern them in the least. Since they were subjects of foreign states, they had no rights beyond residence so long as they obeyed the laws of the state in which they lived and did not violate them. Just as a Frenchman, Englishman or Italian who committed a crime or offense in Germany was regarded as an undesirable resident, "the German states must apply that principle to the Jews, and they have the right to do so."