Word: reichsbanker
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...victims. As early as 1943, when Washington launched Project Safehaven to locate the Nazi plunder and find out where it was going, the U.S. knew most of it was entering Switzerland. That year, spymaster Dulles warned the Swiss government that much of the 100 tons of gold bullion the Reichsbank was selling for Swiss francs was stolen. Eventually, Safehaven agents concluded that some $6 billion in Nazi assets had been transferred into Switzerland from 1938 to 1945 under cover of bank-secrecy laws...
...deposit in Switzerland, a charge Bern vigorously denies. Not all of it was taken from captured central banks. Some was gold from the jewelry and teeth of Jewish victims of death camps. The Germans then remelted it into ingots and camouflaged them with the stamp of the prewar Reichsbank. Despite knowledge of the magnitude of such actions, in 1946 the Allies signed an agreement under which the Swiss handed over only about $60 million to be repaid to the looted countries...
...single week, the amazing output of 389,000,000,000,000 of marks-or more than all outstanding marks put together-was seen. The discount rate of the Reichsbank stood at the unparalleled rate of 90%. Individual German States like Dantzig are seeking to establish new currencies of their own, and the Berlin government is frantically at work trying to invent some new gold-convertible currency for the nation...
...other original inmates, Walther Funk, head of the Reichsbank, Czechoslovakia's Nazi Boss Konstantin von Neurath, Hitler Youth Leader Baldur von Schirach, and Admirals Erich Rae-der and Karl Doenitz were released either after completing their sentences or because of failing health...
Died. Dr. Karl Blessing, 71, former president of West Germany's Bundesbank; of a heart attack; in Rasteau, France. An advocate of tight-money policies, Blessing first rose to national prominence as the youngest member of the directorate of Hitler's Reichsbank, a post he lost in 1939 for opposing the Führer's rearmament policies as inflationary. As Bundesbank president from 1958 to 1969, he fought tenaciously for the stability of the mark during his country's 1966-67 recession and carried out a 9% upward revaluation of the mark...