HUNTING NAZI GOLD

Famous American stockbroker Gerald M Loeb once stated that, “The desire for gold is the most universal and deeply rooted commercial instinct of the human race.” Since the substance was first smelted by the ancient Egyptians around 3,600 BCE, this most precious of metals has become a symbol of wealth and power. The establishment of the Gold Standard in 1717, which allowed currency to be linked to gold at a fixed rate, further increased its importance.

During World War II, the Nazi war machine was a hungry beast, requiring a consistent supply of funds to purchase materials, feed troops and ensure that the assult across Europe, and the world, continued. As a result, Nazi policy was to systematically loot all countries, and their populations, who were unfortunate enough to fall under their occupation. Indeed, in 1943 the British Ministry of Economic Warfare estimated that some $550 million-worth of gold had been looted by the Nazis from numerous occupied countries. However, the exact amount of gold stolen by the Nazis remains unknown, particularly as the location for much of the plundered loot remains a mystery.

First and foremost it’s important to assess the nature of the looted gold. While a large amount was taken in the form of bars stolen directly from banks, which were then melted and rebranded with Reichsbank insignia, some was obtained by much more distressing means. The first evidence of