rumored that Jacob Goldschmidt, powerful in Democratic Party circles and keen to oust Schacht from the Danatbank, was actively lobbying to kick him upstairs. The post he assumed carried with it unprecedented powers. He was given cabinet rank; was to be invited to all its meetings; and most important, had the right of veto over any measures that had implications for the currency, a veto that could only be overridden by a majority of the cabinet.
