A situation has arisen in which only the Soviet side has to give an account to the Control Council whereas the American and British sides refuse to g… - Vasily Sokolovsky

For the purpose of protecting the interests of the population of the Soviet zone of occupation of Germany and of the Greater Berlin area and of preventing economic dislocation through the separate actions of the Western Powers, the Soviet military administration in Germany will also adopt other necessary measures arising out of the present situation. The Soviet military administration in Germany feels certain that the German population will support its measures and will take the necessary steps to overcome difficulties, to raise the level of economy and strengthen currency circulation in the Soviet occupation zone of Germany

It is now clear that the American, British and French representatives, while formally conducting discussions in the Control Council about an all-German currency reform, used these discussions for the secret preparation of a separate currency reform. Attempts to justify the separate currency reform are being made by reference to the necessity of bringing order into the circulation of currency in the Western German zones of occupation, ruined by National Socialism.

Huge sums of money have remained in the Western Zones, entirely in the hands of big capitalists and profiteers, money which they had made from war deliveries and speculation. German banking and industrial monopolies have remained in the Western zones and many of them have as good as been transformed into branches of Wall Street, that is branches of American banks and industrial monopolies.