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Word Count: 655
The Story Behind the Nazi Gold Nazi Gold Hard currency looted from treasuries of countries occupied by the Axis powers during World War II Ingots consisting of gold melted down from the teeth of murder victims and weddings bands and jewelry About two thirds of an estimated 660 million 78 billion in todays dollars in stolen Nazi gold passed through Switzerland during the war And like any sharp businessmen with hot goods the Swiss disposed of much of their gold quickly - through Portugal mainly but also to Sweden Spain and other central banks Hirsh 48 Probably no more that 140 million remains unaccounted for and a good portion of that was probably sold onward as well But what remains of the known Nazi hoard none of which has been returned to the Jewish community is worth no more than about 65 million according to the Brussels-based Tripartite Gold Commission set up after World War II to return stolen gold to national treasuries Recently the Clinton administration created a com mission to search for any Nazi funds that might have ended up in US Federal Reserve vaults We have to be willing not only to focus the spotlight on Switzerland says Under Secretary of Commerce Stuart Eizenstat We have to be willing to follow the trail of assets into our own treasury qtd in Hirsh 47 This trail though suggests that there is no huge stash of Nazi gold in Switzerland The loot has scattered worldwide through numerous transactions and is probably irretrievable Also because so many banks were involved the amount of gold left in Wieckowski 2 Switzerland is probably negligible contrary to what investigators have until now presumed At this point the cost or returning the Nazi Gold to its rightful owners is not worth the trouble and inconvenience it would create Documents released in recent months have made it clear that Swiss banks traded in looted Nazi-gold and that Swiss businesses made
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