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"How were German's gold reserves created, and what role has gold played as a means of payment over time? ... The Deutsche Bundesbank's project to bring substantial gold holdings to Frankfurt am Main from storage locations in New York and Paris has generated a great deal of public interest over the past few years. This book is the first of its kind to provide a detailed account of how the gold in the Bundesbank's vaults came into being and how it has been used and stored over time. Splendid images of selected gold bars provide a beautiful backdrop to in-depth informtion on the properties of gold and how it is mined and processed"--Back of dust jacket.
Steven Ungerleider's Faust's Gold is the stunning expose of the East German sports juggernaut of the 1970s and 1980s that forced young athletes to unknowingly take steroids. For nearly twenty-five years, East Germany's corrupt sports organization dominated international athletics. While the German Democratic Republic's secret "State Plan" was in effect, more than ten thousand unsuspecting young athletes--some as young as twelve years old--were given massive doses of performance-enhancing anabolic steroids. These athletes achieved miraculous success in international competitions, including the Olympics, but for many of them, their physical and emotional health was permanently damaged. Faust's Gold draws on the revelations of the ongoing trials of former GDR coaches, doctors, and sports officials who have now confessed to conducting ruthless medical experiments on young and talented athletes selected for Olympic training camps. It also draws on the extensive research of Brigitte Berendonk, who escaped from East Germany to begin a decade-long crusade to bring justice to her fellow athletes, and that of her husband, Professor Werner Franke. Berendonk's story, and those of her colleagues in the GDR, offers a unique insight into a bizarre regime. Faust's Gold is a true-life detective story that plunges into the dark, secretive world of the GDR doping scam, where elite competitors and their families are up against a formidable opponent: the East German secret police, known as the STASI. What emerges is a complex tapestry of the politicized modern Olympics that culminates in a powerful testimony to the massive wrong done by one Eastern Bloc nation to its world-class athletes.
Winner of the Lionel Trilling Award Nominated for the National Book Award “A major contribution to our understanding of some of the great themes of modern European history—the relations between Jews and Germans, between economics and politics, between banking and diplomacy.” —James Joll, The New York Times Book Review “I cannot praise this book too highly. It is a work of original scholarship, both exact and profound. It restores a buried chapter of history and penetrates, with insight and understanding, one of the most disturbing historical problems of modern times.” —Hugh J. Trevor-Roper, London Sunday Times “[An] extraordinary book, an invaluable contribution to our understanding of Germany in the second half of the nineteenth century.” —Stanley Hoffman, Washington Post Book World “One of the most important historical works of the past few decades.” —Golo Mann “In many ways this book resembles the great nineteenth-century novels.” —The Economist
A “compelling [and] carefully researched” account of greed, duplicity, and an unholy partnership between Switzerland and the Third Reich (The Washington Times). In the third and fourth decades of the twentieth century, the European continent fell, nation by nation, to Nazi Germany’s invincible war machine. But Switzerland remained neutral during World War II, taking no side and bowing to no master. For a long time after, that was the accepted history—but it was a lie. Respected British investigative journalist Tom Bower reveals the shocking truth about how the government of Switzerland and the Swiss banking industry knowingly collaborated with the Reich during the darkest era in modern history. With the knowledge and acquiescence of the Swiss government, hundreds of millions of dollars stolen from Jewish Holocaust victims—including gold teeth extracted from the mouths of those murdered—were systematically hidden away in Swiss bank accounts. But these crimes did not end with the defeat of Hitler. For the next half century, Swiss authorities engaged in a covert campaign of lies, subterfuge, and corruption to hide the wealth from its rightful owners—concentration camp survivors and the families of the slain—while freely dispensing the illegally obtained funds to fugitive Nazis. Written by “one of the finest investigative journalists in the English-speaking world,” Nazi Gold is an explosive true account of state-endorsed crimes and atrocities; of former victims fighting courageously for their due in the face of prejudice, hatred, and indifference; and of the dedicated US Treasury agents who worked tirelessly for decades to right an unconscionable wrong (The Washington Times).
"Amid the severe devastation wrought by the Second World War, the economic implications of the Nazi regime is a subject that has come to light only in recent years. Holocaust Gold by Raul Teitelbaum and Moshe Sanbar is an important and revealing contribution to this growing body of historical research. Tracing the path of Nazi looting and plunder, Sanbar and Teitelbaum identify and elaborate the complexities of this sensitive issue, and the difficulties in seeking justice half a century later. The lack of German documentation of the gold looted from individuals combined with a host of contributing factors that include politics and the role of the media ensures that the issue of Nazi gold be so difficult and painful to reconcile. The authors explore the role of 'neutral' Switzerland and the systematic effort by Swiss leaders to blur the tracks of the gold that reached the vaults of the Nazi Reichsbank. A detailed chapter features an expose of the little-known Vreneli affair: the minting of Vreneli gold coins on an unprecedented scale, and the sale of these coins to the general public in order to shrink the enormous gold stocks Switzerland amassed during the war. Holocaust Gold also uncovers several fascinating and telling pieces of information, including the story of Himmler's mistress who was assured a luxurious lifestyle after the war, and how SS officials used gold extracted from the mouths of their victims for their own dental work. This book is comprehensive and impressive, providing a historical and economic framework in which to contemplate the magnitude of the Nazi looting and the subsequent cover-ups. The authors condemn the Swiss authorities, convincingly contending that the $1.25 billion that the major Swiss commercial banks pledged to the victims of the Holocaust totally disregards the active role the Swiss Central Bank and Swiss government played in this devastating affair. Holocaust Gold is both courageous and insightful, exploring a shameful economic history and policy to which the world has only recently awoken."--Amazon.com
In 1871-73, newly unified Germany adopted the gold standard, replacing the silver-based currencies that had been prevalent in most German states until then. The reform sparked a series of steps in other countries that ultimately ended global bimetallism, i.e., a near-universal fixed exchange rate system in which (mostly) France stabilized the exchange value between gold and silver currencies. As a result, silver currencies depreciated sharply, and severe deflation ensued in the gold block. Why did Germany switch to gold and set the train of destructive events in motion? Both a review of the contemporaneous debate and statistical evidence suggest that it acted preemptively: the Australian and Californian gold discoveries of around 1850 had greatly increased the global supply of gold. By the mid-1860s, gold threatened to crowd out silver money in France, which would have severed the link between gold and silver currencies. Without reform, Germany would thus have risked exclusion from the fixed exchange rate system that tied together the major industrial economies. Reform required French accommodation, however. Victory in the Franco-Prussian war of 1870/71 allowed Germany to force accommodation, but only until France settled the war indemnity and regained sovereignty in late 1873. In this situation, switching to gold was superior to adopting bimetallism, as it prevented France from derailing Germany’s reform ex-post.
This groundbreaking international bestseller lays to rest many myths about the Holocaust: that Germans were ignorant of the mass destruction of Jews, that the killers were all SS men, and that those who slaughtered Jews did so reluctantly. Hitler's Willing Executioners provides conclusive evidence that the extermination of European Jewry engaged the energies and enthusiasm of tens of thousands of ordinary Germans. Goldhagen reconstructs the climate of "eliminationist anti-Semitism" that made Hitler's pursuit of his genocidal goals possible and the radical persecution of the Jews during the 1930s popular. Drawing on a wealth of unused archival materials, principally the testimony of the killers themselves, Goldhagen takes us into the killing fields where Germans voluntarily hunted Jews like animals, tortured them wantonly, and then posed cheerfully for snapshots with their victims. From mobile killing units, to the camps, to the death marches, Goldhagen shows how ordinary Germans, nurtured in a society where Jews were seen as unalterable evil and dangerous, willingly followed their beliefs to their logical conclusion. "Hitler's Willing Executioner's is an original, indeed brilliant contribution to the...literature on the Holocaust."--New York Review of Books "The most important book ever published about the Holocaust...Eloquently written, meticulously documented, impassioned...A model of moral and scholarly integrity."--Philadelphia Inquirer