Rather than supporting Kurt Schmitt in his effort to limit military spending, Schacht deliberately outflanked him. The key moment appears to have come in March 1934, when Schmitt and Schacht were summoned by Hitler to a private meeting on the Obersalzberg at which they were to settle the future direction of economic policy. In advance of the meeting, Schmitt took care to reach an agreement with Schacht not to concede more than 15 billion Reichsmarks for rearmament. But when it came to the crucial meeting with Hitler, Schacht allowed Schmitt to break the unwelcome news before announcing that,
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