How the Swiss Protected Hitler’s Gold

How the Swiss Protected Hitler’s Gold

Switzerland: we know it for its watches, skiing,
and incredible chocolate, but even more so for the Swiss banking industry, unique in
all the world for its secrecy and neutrality. But, as we’ll see in this video, neutrality
and secrecy do have a dark side, for during World War 2, Germany used the Swiss banks
to further their war effort and since the war ended, we’ve uncovered the reality of
just how greedy the biggest Swiss banking institutions actually were. This video is brought to you by CuriosityStream. Watch thousands of award-winning documentaries
by signing up with the link in the description. While the Swiss never had the expansionist
ambitions of the other great nations of Europe, like France, the UK and Germany, they did
have a very keen sense for economic power, which is why they steadily developed a banking
secrecy act that protected the anonymity of people using their banks. In their geopolitical situation this made
a lot of sense, since the Swiss also practiced a policy of armed neutrality to protect themselves
and their banks. This means avoiding military alliances and
never entering the conflicts of other nations. It is a testament to their persistence that
Switzerland holds the oldest neutrality policy in the world, with the last war they participated
in being the one that saw the defeat of Napoleon. So, when World War 2 saw the Swiss surrounded
by Axis and Allied countries, they took very serious steps to avoid being pulled in, at
one time mobilizing almost a million soldiers to defend themselves from being invaded. The Swiss prevented both American, British,
and German planes from flying through their airspace or traversing their country and anybody
not following these rules found themselves in Swiss internment camps. At the time, the Swiss were praised for their
neutral position in the war, but they also received a lot of bad press about their neutral
stances in banking and business. They were willing to continue accepting gold
and to do business with all countries, including Nazi Germany. Now, after the reparations for World War 1,
Germany was struggling to pay its debts; that is, until, Adolf Hitler rose to power in 1933
and promptly canceled the repayments. Hitler’s plan was to start organized looting,
both of the private individuals and the countries that he invaded, a task that he handed over
to a special force designed for that purpose. Supposedly, the group was to collect art and
valuables in order to preserve them, intending to return whatever was taken to the owners
after the war was over. And yet the immense value of the stolen goods
proved way too tempting, and so the plunder was funneled off to help the war effort. It’s estimated that over $550 million worth
of gold was plundered from the banking reserves of countries like Belgium, the Netherlands
and Austria, all in an effort to fund the war. This number is hard to finalize because besides
gold reserves, there was also looting of silver, collectibles, and fine art. Now, just having valuable art is of no use
if you can’t actually buy anything with it, so In order to actually use this gold,
Hitler had to get creative. He began sending shipments to the neutral
powers that still did business with Nazi Germany, the largest of which was Switzerland. In 1940, Hitler became even more aggressive,
changing his strategy from looting banks to legalizing the outright appropriation of the
property of the Jewish people, especially their gold. Now, keep in mind that none of these actions
were hidden: the world was pretty aware of the harsh treatment of the Jews. And yet, despite the blatant way Nazi Germany
acted, Switzerland, in an effort to remain neutral, continued buying the looted Nazi
Gold. The Swiss stubbornly resisted any claim they
were acting favourably towards the Nazis, but the reality was very different. Swiss companies like Nestle ignored the atrocities
and continued operating as if everything was business-as-usual. Of course, there was plenty of actual Nazi
sympathy going on in Switzerland at the time. The two Swiss companies that would eventually
form the pharmaceutical titan Novartis completely replaced their Jewish board members with an
Aryan German board when Hitler rose to power in 1933. The official border policy of Switzerland
during this time was to actively turn away any Jews from the border that were fleeing
the Nazi regime. In 1938, the Swiss Chief of Police even requested
that all Jewish German passports be marked with a “J”, so they could easily deny
entry to the Jewish people, all the while hoarding their stolen gold. Now to be fair, most Swiss citizens at the
time had no idea of these connections to the Nazis, but the businessman, bankers, and politicians
could claim no ignorance. Luckily for them, the world was too busy battling
with Hitler’s forces to take any action against Switzerland, but after the war ended
in 1945, the global attention turned towards those renowned private vaults in the Swiss
Alps. Allied forces, acting on behalf of the hundreds
of thousands of Jewish victims, demanded the Swiss banks turn over the gold they had been
storing away. The banks resisted at first, of course, but
an international agreement forced them to hand over $60 million to the victims and their
families a year after the war was won. In 1962, a law was made that forced banks
to identify the dormant accounts they had and to reclaim that money. That law, however, only saw a further $15
million recovered and paid back. In 1996, the World Jewish Council formed a
special committee to uncover the true scope of the actions of Swiss Banks and after 2
years of investigation, the findings were staggering. The Nazis had smuggled at least 100 tons of
gold through Switzerland, but only 4 tons had ever been recovered and paid back. The WJC sued the banks and won a lawsuit that
saw several Swiss banks and companies contribute to settlement of over $1.25 billion to disperse
to the victims of the Holocaust around the world, who numbered at just under half a million
at the time. Several banks like Credit Suisse and UBS,
as well as Nestle, and other smaller companies participated in that settlement. UBS also made a donation of $40 million to
the International Red Cross as a token compensation for the unclaimed accounts. Of course, there are many who still aren’t
happy with the way the Swiss banks handled the after-war repayments. The banks; they claim, haven’t reclaimed
the accounts and deposit boxes belonging to the families who were entirely wiped out. Unfortunately, there is no acceptable figure
of how much unrecovered Nazi gold still lingers in the vaults today, stolen from families
that no longer exist. Neutrality, as Switzerland learned, has its
price and yet at the end of the day it seems to have been a small one. To this day, Swiss banks safeguard over 25%
of the world’s cross-border assets and currently hold $6.5 trillion in assets. Now, if you’re curious about the final days
of the Nazi regime or the bombing campaigns that made that possible, you’ll probably
enjoy watching these two awesome documentaries on CuriosityStream. If you don’t know, CuriosityStream is the
largest online streaming platform for award-winning documentaries and you can watch all of them
for just $2.99 a month. CuriosityStream is a great way to broaden
your horizons and you can try it for free right now if you sign up for a 30-day free
trial by following the link in the description and using the code ‘businesscasual’. In any case, I’d like to thank you for watching
this video. I hope you enjoyed it and if you did, make
sure to subscribe to catch my new videos every other Friday. We’re gonna hear each other again in two
weeks and until then: stay smart.

Comments (100)

  1. What a shit channel

  2. Spain also did business with Nazi Germany.

  3. Switzerland shielded Jewish assets from getting confiscated by the plundering Nazis, with the help of the anonymous “Nummernkonto”.

  4. Now Jews are doing the same to Palestinians, taking their proprieties land and expelling them to other countries

  5. Bank of England protected looted wealth of British empire
    Why aren't they targeted

    Let's forget the bad of history and move forward

  6. 6:24 that is only $2700 per person if you're wondering.

  7. The reality is Nazis we’re strengthened and weaken by U.S establishment (businessmen) because of their own interest U.k was fooled by U.S and today’s war loving American business owners of arms industries loves to sell their weapon to their nation on the behalf of U.S tax payers money Good luck U.S we don’t know whom is commanding you your establishment or Donald trump no need to select your presidential candidate

  8. You know whats dope as hell? Their strict laws on data protection and privacy. If you want anything from a different person, lets say your mother tells you to get important documents/letters. No chance they give you. Not even with ID.

  9. Ofcourse they would do buisness with hitler/germany because they are neutral. Absolutely neutral. Whats the point if you favor anybody you arent neutral anymore.

  10. 3:24
    >shows WW2 Nazi sign on a WW1 map lmao

  11. Why is there a cat-boy in the Jewish crowd at 5:20 XD

  12. and we are back to watching good completed videos!

  13. Swiss actions during WWII were cowardly.

  14. Here in Portugal I've seen swastika marked gold with my own eyes. Piles of it

  15. Make a video about how England stole a ton of gold from Africa and where they're hiding it. Everybody always talks about nazi's as if they're the only monsters thar exist

  16. Helping Natzi's makes you neutral???

  17. The Netherlands also made a big profit during WO I. They acted like an transit hatch between the Allies and the Central Powers for scarce goods (which where many due of the war effort). Also for example, the ship industry, the fishing industry, the steel industry and even the agricultural sector all when trough the roof due to the highly exports. Even when there was little food the agricultural sector preferred to export with an faminen as result. This started a major strike where the whole potato market for the export got looted . Only a few made a big profit for the major part of the population it was business as usual. It's pretty interesting to see how economies can develop in those specific times.

  18. The swiss were just the Drug Dealer for WWII.

  19. I agree those banks and nestle were bad. But this isn't just Germany and Hitler. France and England largely benefitted from colonialism and if those Swizz banks accepted the gold from them too, that's not any different. This isn't an excuse but rather about how a huge part of history is being ignored here.

  20. 5:22 felix. right top

  21. Lot of true… But you made a mistake. The J on the passport wasn't a Swiss idea!
    Greetings from Switzerland

  22. Note: The Germans looted the Europeans. True and bad!
    The Europeans looted the rest of the world for past 300 years. LOL

  23. Beein sourrounded by Nazis, would you act much different?

  24. Swedens last war was 1814

  25. Not much has changed since then. German industrialists who got rich with the Nazis still keep their money in CH. If there is something Swiss are not neutral is double morality, they like to lecture the world but they keep turning a blind eye on blood stained money.

  26. Did you really expect any other outcome than greed? If you're always turning a profit a war won't ever stop you.

  27. that is pure bullshit

  28. I had no idea that the words "banking" and "greed" were connected. I though that banks only had the best for people in mind. I thought banks were founded on benevolence, altruism, empathy, compassion, and humanitarianism. Guess I was wrong.

  29. Oh great. Another uneducated person blabbing off of the 90s "muh swiss banks bad give shekel" sheets that have been debunked even back then. The claims were iligitimate and in clear violation of the AGB's.

  30. Switzerland 🇨🇭 is like a vault for hiding rich people Gold . And secret Documents that if it ever get out to the World 🗺 they will be in trouble.👌👌😤

  31. Good, I say. Corporations are not people, they do not care about your war, they are economic entities that exist to provide goods or services. That's opposed to today's nightmare where they preach morality to people and try to socially engineer society towards their dubious goals.

    The swiss bankers were right to not give a damn.

  32. Learnt something new.

  33. Turning away the jews rendered Swiss neutrality obsolete but hey…

  34. Never been more proud to be Swiss

  35. I don’t know why but I feel aa odd connection to this channel

  36. The jews are only 14 million in a world of billions, and they were always a real small Minority though out history but they always cause a lot of troubles in every country they settle in, that make me wonder a lot!

  37. Switzerland needs to be partitioned between France, Germany and Italy. The world will be a better place that way.


  39. The chocolates in the bottom at 0:05 look like Ganondorf!

  40. 1:35 That's a map of WW1-era Europe?

  41. What they stole 100 Millions of gold?!

  42. Also add that the Swiss government allowed freight trains to move between Nazi Germany and Italy via Switzerland as it was faster and more economical. I guess the alternative was to fight a lonely, hopeless war.

  43. You're using a WW1 map though

  44. Can you make a business analysis on stark industries i.e. Tony Stark's company and what does it do other than manufacturing weapons😁

  45. That's the topic! Great job! This is where the real power is, not the governments and the Presidents.

  46. They also hold Vatican's gold. Catholics give 10% to church. There is almost a billion catholic. Swiss is also top weapon manufacturer.

    Basically like the dwarves. Lives in mountain, lots of gold, weapon expert. "Gnomes of Zurich"

  47. A bit too superficial. If you're a small country bordering a superpower with a seemingly invincible army, of course you will sing to the tune. You can't piss 'em off, get yourself invaded and tell your children "at least you stood for your ideals", this isn't a movie

  48. Please return to making videos on company history. That's why I subscribed

  49. Why is there an anime character in this video 5:21

  50. What program are you using for making the videos? How do you make these picture effects? Anybody know?

  51. Can we do the same for stolen African gold? Or is that only reserved for whites?

  52. Consider making a video on the credit rating agencies.

  53. Americans make movies and documentary in a very interesting way. When they tell a story about American companies and citizens even the crimes are presented like something very good or at least clever. This umbrella of praise spans over the UK as well. After the Communist Times. The tycoons of communism hide their money in dominion countries and protected territories of USA and the UK. USA and the UK even donated citizenships to some of those Communist tycoons. Why don’t you care to make a documentary on some banks in the offshore territories protected or ruled by the USA or the UK? Because, this one, you know is happening right now, not 70 years ago.

  54. Sooooo….. Not truly neutral?

  55. With the way people describe the Nazi regime,i don't think it is wise for anyone to turn them down.

  56. Kenedy, Morgan all of them ,have invested in germany and have bussines with Hisper.
    Non of the countries who blame him, want jews emigrants. Because they want ishrael.
    Yalta treaty

  57. But germany is paying still to this day compensation.

  58. When you are too dedicated to something

  59. It is disgusting to see that they don't want any jew to live but wanted jewish gold and other valuable.

  60. Why don’t you do one on how the Jews fucked the Germans in WW1 by bringing in America. No body ever seems to cover that aspect of it

  61. The jewsish banks and business man caused the bankruptcy of Europe and Germany…. The Germans just took back what was theirs 😉

  62. Sources would be even better

  63. incredibly hard for me to watch because i wonder now, does my family have lost possessions in swiss banks? how much of our history is just sitting in a dusty box because sweden can’t get off its high horse

  64. The fact that this actually happened in history is astounding

  65. Hitler did many questionable things but to say his plan was to start organised looting is not only wrong but stupid.

    Every nation has taken treasures from occupied nations. To name just one Britain stole and has kept to this very day the Koh I Noor. The most valuable diamond ever found stolen from India.

  66. Super interesting content! Thank you!

  67. The quality of these videos is not the same of the past ones.

  68. This is not neutrality- it's machiavellianism.

  69. 5:51 is that a thing????

  70. 5:22 wtf is that shit, please never do that again

  71. The funny thing is that although the riches from the looting where taken from multiple countries, peoples, and ethnicities; the chosen ones claim that ALL should be given to them.

  72. How much North Korean gold are there in Swiss banks?

  73. Ever wonder why they're not in EU too? 💰💰💰

  74. Obviously I think it's very wrong what the Swiss did. But if the only way to not b invaded was to b their banker, I would of too……. So would u

  75. My beloved country money is stolen and kept in Switzerland, please Swiss deport Africa people money just like the way you deport Africa people.

  76. Hhhh but 5hat what a bank should do hhhhhh

  77. ''Lets talk now'' – Business Casual
    ''It's only business'' – Swiss Banks

  78. 5:25 there is a cat girl on the right side. (Easter egg)

  79. 5:24 wait whats that in the backround?humm i see you BC,i see you

  80. Shouldn’t these banking systems with their secrecy acts be legally forced by the international community to nulify these laws in order to aid transparency in money transactions and to prevent money laundering and tax evasion.
    What these documentaries are exposing is the immense amount of financial hypocrisy and fraudulent banking practices that exist. Moreso in the era of international trade. How can you build a stable world without a stable world economy that isn’t financially accountable? This is part of the reason that the world is in constant turmoil. They should also look into the south african gold trade and switserland during the apartheid era. Not fresh at all. These banking system enable a whole lot of nefarious activity…
    Why the world bank and imf keeps so utterly quiet is astounding while the world is screaming for financial and banking reform. But i guess we are fitting the bill of the rich through our taxes

  81. Uhum Belgian chocolate is better! BTW great video.

  82. But to add some highly needed context (because this have barely any) All countries returned Jews to Germany – USA, Poland, Denmark etc.. Sweden accepted Jews from Denmark – only when Germany were loosing WW2. As far I understand (might be biased – since I was told by a Swiss guy) USA have much more WW2 Jew money – but since US have more liberal rules for closing idle account – it’s much harder to find a company/person and account for that money.

  83. Swiss also known for rafa

  84. why is there a anime figure in the background on minute 5.25????

  85. Good video but the statement at 4:42 about Heinrich Rothmund is untrue and has been falsely attributed to him. The J stamp was proposed by the German authorities, not the other way around.

  86. Common now… Nazi arent the only shady people swiss banks did business with. If big time drug dealer, human trafficker, corrupt politician, thief or just hiding ur money from ur country's tax collectors. Suiss banks were the place for you.

  87. 05:20 WTF, there is a hentai maid on right- behind of the Stalin XD

  88. i have full notifications for this channel and watch every video, i got no notification of this video at all. ffs utube.

  89. I would say this really was a case of greed. After WW2, swiss neutrality had been succeeded, I dont see why making an agreement to give back the goods Nazi would be against the idea of swiss neutrality since it is amoral after all.

  90. How much gold did the Swiss protect for the British, who were also colonialists responsible for the enslavement of many nations. Nazis were evil, but it didn't end there.

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