How did the monetary system of the Third Reich actually work?

As I understand it, the revisionist claim about the monetary system of Hitler’s Germany is as follows:

• An interest-free “labor backed” currency was used instead of a debt-backed currency
• Money would be coined to pay workers employed in public works projects, thereby tying the creation of money to units of labor rather than debt
• This money was interest-free, unlike our system where created money is owed back at interest
• Revisionists claim that this monetary system was integral to the rapid economic turnaround that occurred in Germany from 1933 to 1939

While a lack of interest attached to the money supply sounds appealing, this (alleged) monetary system actually seems worse than our system because money creation is tied directly to government spending rather than to the private loans created through the fractional reserve banking system.

So how much truth is there to this? I’m skeptical, because this information is often presented alongside nonsense conspiracy theories about the Federal Reserve (such as it being secretly owned by banking families who pocket the interest on Federal Treasury bonds, instead of it being rebated to the Treasury).