Word: switzerland
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Dates: during 1940-1949
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...gone, several ponies still fed in the U.S. stall. Dividends and patent royalties due Germans have been piling up in the U.S., providing dollars that could easily be used to finance the Gestapo in this Hemisphere as well as at home. Some of the newly frozen neutrals, notably Switzerland, have been financial servants of the Axis. The President's order locked these ponies in for good...
...including neutral nations in his order, the President finessed the problem that most worried the State Department-slapping the Axis alone. But in an accompanying statement, he showed an inclination to be more lenient with the Governments (and citizens) of Finland, Portugal, Spain, Sweden, Switzerland and the U.S.S.R. than with Italy, Germany and the countries they have occupied. These nations, he indicated, might avoid freezing control through general licenses permitting financial transactions "upon the receipt of adequate assurances . . . that the general licenses will not be employed ... to evade the (anti-Axis) purposes of this order...
...sponsored by I. G. Farbenindustrie, but since 1939 called General Aniline & Film (textiles, dyes, Agfa Ansco camera equipment). SEC revealed that the original U.S. directors of the firm, including Standard Oil of New Jersey's Walter Teagle, had no idea who controlled it either. The trail ended in Switzerland, where a number of long-named banking firms were holders "of record," but not "beneficially," of over 75% of the company's voting stock, for principals whom they refused to name...
...refusal may well have been due to the ancient banking principle (nowhere more grimly adhered to than in Switzerland) that bankers don't tell on their clients. The fact remains that many business transactions that look Nazi from the U.S. side, wind up in a dead end somewhere in Switzerland. It is a safe bet that Switzerland, willingly or not, has been acting as Germany's banker since the war began, as she did before...
...Totalitarian World was organizing. The German press scoffed at reports, originating in the U.S. press, that Adolf Hitler was about to announce a Federation of European States under German leadership. Such a federation was already virtually a fact, except for such nervous little islands of democracy as Sweden, Finland, Switzerland (which is useful to the Germans as a clearinghouse for foreign exchange). France was practically in the war against Great Britain (see p. 21). Portugal was strengthening the defenses of its Atlantic islands, and Lisbon was a nest of Nazi schemers working to have those defenses used against the Democratic...