A perfect storm created the conditions for the Nazi’s march to war. The naïve belief that you could kill Nazism with kindness (aka trade agreements from which bankers and businessmen personally hoped to profit) was held simultaneously by the US Secretary of State, Cordell Hull, the Governor of the Bank of England, Montagu Norman, and the second in command at the British Foreign Office, Orme Sargent. Their opponents in government argued that tough action was necessary to contain Germany ‘even at a cost’ to those who had invested. They were consistently undermined.

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