Chasing Gold: The Incredible Story of How the Nazis Stole Europe's Bullion
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15. Pessimistic reports: Daniel Kowalsky. Stalin and The Spanish Civil War. Chapter 1.
16. And code breakers: Ibid., chapter 9.
17. The artillery fire: W.G. Krivitsky, In Stalin’s Secret Service, p. 71.
18. Agency’s economic department: Edward Gazur, Alexander Orlov, p. 14.
19. On September 16: Alexander Orlov, Reader’s Digest, December 1966, pp. 31–43.
20. Gave to Franco: RGASPI, Fond 17, op. 166.
21. The good life: Bolloten, p. 143.
22. Million gold dollars: Louis Fischer, Men and Politics, p. 356.
23. All with aviation: Kowalsky, Daniel. Stalin and The Spanish Civil War, chapter 3.
24. The best security: Edward Gazur, Alexander Orlov, p. 85.
25. For the government: Angel Viñas, The Financing of the Civil War, p. 228.
26. The Spanish gold: W.G. Krivitsky, In Stalin’s Secret Service, p. 87.
27. In Soviet Russia: Alexander Orlov, March of Time, p. 384.
28. Time of delivery: Gerald Howson, Arms for Spain, p. 122.
29. By Schwed personally: Alexander Orlov, March of Time pp. 381-382.
30. To that country: Ibid. p. 385.
31. To store munitions: Ibid. pp. 385-387.
32. Bank of America: Ibid. p. 387.
33. Arriving Soviet vessel: Alexander Orlov, Readers Digest.
34. Carry each box: Alexander Orlov, March of Time p. 91
35. When he could: Alexander Orlov, Reader’s Digest.
36. Soon be over: Alexander Orlov, March of Time p. 391.
37. Settle the problem: Edward Gazur, Alexander Orlov, p. 93.
38. Checked and weighed: Ibid.
39. Be legally meaningless: RGVA RF, Fond 05, Litvinov Files, op. 16, P.114, file 1.
40. Sure of your figure: John Costello and Oleg Tsarev, Deadly Illusions, p. 262.
41. Your figure to anybody: Ibid.
42. End to end: W.G. Krivitsky, In Stalin’s Secret Service, p. 98.
43. On November 7: RGASPI, Yurii Rybalkin, Operatsija “Iks” .
44. Most of them Portuguese: Burnett Boilloten, The Spanish Civil War, pp. 149-152.
45. Their own ears: Orlov papers. NACP RG 46, Box 77.
CHAPTER THREE: ADOLF HITLER’S ARGONAUT
1. Always called Hjalmar: Hjalmar Schacht, My First Seventy-Six Years, pp. 10-22.
2. His stiff formality: Jacobsson, Erin, A Life for Sound Money, p. 119.
3. His complex character: Harold Deutsch, Hitler and His Generals. BA PRO, C/23/83/18.
4. Quantity of other goods: Hjalmar Schacht, Gold for Europe, p. vii. David Ricardo, On the Principles of Political Economy and Taxation, Part 1.2.
5. Edge of a volcano: Hjalmar Schacht, My First Seventy-Six Years, p. 177. Frederick Taylor, The Downfall of Money, pp. 202-205.
6. Travelling third class: Hjalmar Schacht, My First Seventy-Six Years, p. 187.
7. With a lifetime tenure: Frederick Taylor, The Downfall of Money, pp. 329-336.
8. Before Roosevelt’s election: Hjalmar Schacht, The Stabilization of the Mark, p. 129.
9. Standard for the world: Hjalmar Schacht. My First Seventy-Six Years, pp. 194-200.
10. For its replacement: Ibid., p. 264.
11. Two billion per year: Margaret Macmillan, Paris 1919, pp. 102 and 192.
12. Never to have signed: Hjalmar Schacht, My First Seventy-Six Years, p. 247.
13. Wearing that night: IMT 3936-PS.
14. Into practical action: Ibid., p. 279.
15. Dangerous power play: IMT, XVI, 224. Paul Enzig, Germany’s Default, p. 41.
16. As their predecessors: IMT, Vol. 13, May 3, 1946 morning and IMT 456-D.
17. Rule through them: Liaquat Ahamed, Lords of Finance, p. 480.
18. With a forceful Heil: IMT 457-EC.
19. Can save Germany: IMT Vol. 13, May 2, 1946, p. 567.
20. Führer’s position entirely: IMT 2409(a)-PS.
21. Means of the state: The Goebbels Diaries. February 3, 1933, p. 240. Alan Bullock, Hitler a Study in Tyranny, p. 258.
22. With an iron fist: IMT D-203.
23. Such a clear picture: IMT EC-439.
24. Then also denied it: Shirer, p. 194, IMT 3740-PS.
25. Unemployed off the street: Hjalmar Schacht, My First Seventy-Six Years, pp. 302-303.
26. Descending on Germany: Richard Evans, The Coming of the Third Reich, p. 354.
27. Never happen again: William Carr, Arms, Autarky and Aggression, pp. 21-36.
28. Get its payoff: Joseph Borkin, The Crime and Punishment of I.G. Farben, pp. 44-60.
29. Shall swim in it: Trevor-Roper, Hugh, Hitler’s Table Talk, pp. 623-624. Hartmut Berghoff, Business in the Age of Extremes, p. 139.
30. Army before economics: Hitler, Adolf, Hitler’s Second Book, p. 99.
31. The Nazis needed: Albert Speer, Inside the Third Reich, pp. 316-317.
32. Needed with gold: Jacob Weixelbaum Publications and Research, The Contradiction of Neutrality and International Finance, www.jasonweixelbaum.wordpress.com.
33. Clandestine operations abroad: Hans Fredrik Dahl, Quisling, pp. 145-152.
34. All the attention: Hjalmar Schacht, My First Seventy-Six Years, pp. 307-313.
35. Been complete flops: IHT November 23, 1945. John Weitz, Hitler’s Banker, pp. 168-169.
36. Service of warfare: Hjalmar Schacht, My First Seventy-Six Years, p. 320.
37. Our political opponents: IMT 1168-PS. IMT January 11, 1946.
38. Spent on dinners: IMT Vol. 13, Friday, May 3, 1946.
39. Via Mefo financing: IMT Document Schacht-7.
40. Half billion Reichsmark: IMT 493-USA and EC 497.
41. And other purposes: IMT 014-EC and 835-USA.
42. Have taken place: IMT document 835-USA. Ralf Banken, Edelmetallmangel und Groβraubwirtschaft, p. 241.
43. And even dangerous: William Edward Dodd, Ambassador Dodd’s Diary, 1933-1938, p. 254.
44. The Protestant Reformation: Schacht, My First Seventy-Six Years, p. 349.
45. But steadily deteriorated: Time magazine, January 30, 1938, My First Seventy-Six Years, p. 386.
CHAPTER FOUR: FRANKLIN D. ROOSEVELT’S ARGONAUT
1. Soon dropped out: Henry Morgenthau III, Mostly Morgenthau, pp. 213-214.
2. Without a degree: Herbert Levy, Henry Morgenthau, Jr. , pp. 215-217.
3. And deep friendship: Ibid., p. 246.
4. New York State weekly: Ibid., p. 239.
5. Incumbent Herbert Hoover: John Morton Blum, From the Morgenthau Diaries Vol. 1, pp. 31-34.
6. And other businesses: Ibid., pp. 35-50.
7. No one’s here: Bernard F. Stanton. George F. Warren Farm Economist, pp. 404-414. Time magazine cover story November 27, 1933.
8. Before Roosevelt’s election: Bernard F. Stanton, George F. Warren Farm Economist, p. 410.
9. Standard for the world: Peter L. Bernstein, The Power of Gold, p. 318.
10. For paper currency: Ibid., pp. 319-322.
11. Off the gold standard: Liaquat Ahamed, Lords of Finance, p. 461.
12. Prop up world currencies: Ibid., pp. 466-471.
13. So-called international bankers: University of California Santa Barbara, The American Presidency Project. www.presidency.ucsb.edu, Franklin D. Roosevelt, 96. Wireless to London Conference July 3, 1933.
14. End of western civilization: Liaquat Ahamed, Lords of Finance, p. 460.
15. Fist into a pillow: Arthur Schlesinger, Jr. Coming of the New Deal 1933-1935, p. 239.
16. The world market: The American Presidency Project, University of California Santa Barbara. www.presidency.ucsb.edu, Franklin D. Roosevelt fourth fireside chat, October 22, 1933.
17. Secretary of the navy: John Morton Blum, Roosevelt and Morgenthau, pp. 45-53.
18. Put into bankruptcy: Liaquat Ahamed, Lords of Finance, p. 473.
19. Old pink whiskers: Ibid.
20. Standard on the booze: Keynes Open Letter to the President, published in the
New York Times on December 31, 1933.
21. Doing it together: Blum, From the Morgenthau Diaries, Vol. 1, p. 73.
22. Foreign exchange rates: The American Presidency Project: Message to Congress, Recommending Legislation on the Currency System, January 15, 1934.
23. Going to $12 billion: Liaquat Ahamed, Lords of Finance, p. 474.
24. Between 1923 and 1934: CIA study of October 17, 1955. CIA/SV/RR 121 titled “Soviet Gold Production, Reserves and Exports Through 1954.”
25. Access to the powerful: Henry Morgenthau III, Mostly Morgenthaus, pp. 309-314.
26. All the time: HM 3:327.
27. To economic revival: Bernard F. Stanton, p. 431. Liaquat Ahamed, Lords of Finance, p. 477.
CHAPTER FIVE: HERMANN GÖRING GRABS CONTROL
1. Horace Greeley Hjalmar Schacht: William L. Shirer, The Rise and Fall of the Third Reich, pp. 259-262.
2. Carin von Kantzow: Roger Manvell and Heinrich Fraenkel, Goering, pp. 55-62.
3. Swedish drug clinic: Irving, David. Göring, pp. 83-89.
4. With brutal efficiency: William L. Shirer, The Rise and Fall of the Third Reich, pp. 213-226.
5. Called Göring amoral: IMT 3936-PS.
6. Will protect you: Stephen H. Roberts, The House that Hitler Built, p. 63.
7. The hall roared: Roger Manvell and Heinrich Fraenkel. p. 148.
8. Fight major conflicts: German History in Documents and Images, Vol. 7, www.germanhistorydocs.ghi-dc.org.
9. The same deadline: Ibid.
10. Steadfastly carried out: Ibid.
11. Country for imports: IMT EC-416 and EC-244.
12. Faith is justified: Hjalmar Schacht, Confessions of The Old Wizard, p. 338.
13. Produce at home: Völkisher Beobachter, September 10, 1939.
14. Had the chance: William Carr, Arms, Autarky and Aggression, pp. 51-52. Schacht Interrogation September 26, 1945, TD, University of Connecticut, 7971-2.
15. Rest of the world: Foreign Affairs, January 1937.
16. Saw the Führer: Schacht interrogation, September 26, 1945. TD, 7971-2.
17. Approved it in July 1938: IMT EC-243. Bernice Carroll, Design for Total War, pp. 135-137.
18. Bombing the factories: Joseph Berkin, The Crime and Punishment of I.G. Farben, pp. 128-134.
19. Throughout the war: Berenice Carroll, Design for Total War, pp. 145-146.
20. In northern France: Hartmut Berghoff, Jürgen Kocka, and Dieter Ziegler: Wirtschaft im Zeitalter der Extreme. Ralf Banken article “Hiergegen kann nur mit freier Fahndung eingeschritten werden–Die Arbeit der deutschen Devisenschutzkommandos 1938 bis 1944.” Katrin Isabel Krähling, Das Devisenschutzkommando Belgien, 1940-1944. GFAB MA RW 36/217.
21. Orders only from him: IMT EC-376.
22. In the least: Hjalmar Schacht, My First Seventy-Six Years, pp. 369-370. IMT EC-248.
23. Go to war: IMT 244-EC.
24. His former activity: IMT EC-248, PS-3730, EC-252.
25. The Nazi government: Schacht Interrogation on October 12, 1945, TD 7972, EC-248 and PS-3730.
26. Further Mefo spending: Schacht Interrogation, October 12, 1945. TD, 7972.
27. Reichsmark of Mefo bills: TD, 7975-1.
28. I’m fond of you: Hjalmar Schacht My First Seventy-Six Years, p. 375.
29. Because he’ll faint: Albert Speer, Inside the Third Reich, pp. 97-98.
30. To my successor: Hjalmar Schacht, My First Seventy-Six Years, p. 377.
31. Pick up on it: Harold James, Schacht’s Attempted Defection from Hitler’s Germany.
32. Untiring working strength: IMT 3021-PS, 97-EC.
33. Sitting in your chair: Hjalmar Schacht. Account Settled. p. 104.
34. Dismissed the threat: Martha Dodd, Through Embassy Eyes, pp. 236-240.
35. Enlightenment and propaganda: IMT 35-5-PS and 2828-PS.
36. Within their ranks: Albert Speer, Infiltration, p. 66.
37. Hands of Hermann Göring: John Weitz, Hitler’s Banker, pp. 209-221. Ralf Banken, Edelmetallmangel und Groβraubwritschaft, p. 241.
CHAPTER SIX: THE CLUB FOR CENTRAL BANKERS
1. Reichsbank’s Hjalmar Schacht: Liaquat Ahamed, Lords of Finance, pp. 23-72.
2. After World War I: Barry Eichengreen, Golden Fetters, pp. 224-245.
3. The hotel room: Hjalmar Schacht, My First Seventy-Six Years, pp. 250-251.
4. Coordinate national policies: Gianni Toniolo, Central Bank Cooperation at the Bank for International Settlements, pp. 35 and 46-58.
5. Largely of economists: Ibid., p. 62.
6. Flowing behind him: Erin E. Jacobsson, A Life for Sound Money, p. 102.
7. His Jewish counterpart: Hugh Trevor-Roper, Hitler’s Table Talk, pp. 432-433.
8. Do not understand: John Maynard Keynes, The Great Slump of 1930, p. 1.
9. Stable as possible: Liquat Ahamed, Lords of Finance, pp. 375-379.
10. DNA of the BIS: Gianni Toniolo, Central Bank Cooperation at the Bank for International Settlements, p. 131.
11. The basis of gold: Bank for International Settlements website Fifth Annual Report. BIS website: bis.org/publ/arpdf/archive/ar1935_en.pdf.
12. Signed his letters Heil Hitler: Gianni Toniolo, p. 225. William Slany, U.S. and Allied Efforts to Recover and Restore Gold and Other Assets Stolen or Hidden by Germany During World War II, p. 189-193.
CHAPTER SEVEN: AUSTRIA BECOMES THE FIRST EASY PIECE
1. And note taker: Hossbach Memorandum, 1937. Documents on German Foreign Policy, Series D, Vol. 1. pp. 29-39.
2. Bores his guests: Galeazzo Ciano, Diary 1937-1943, p. 233.
3. Period of Nazi aggression: Yale University. Avalon.law.yale.edu/imt/hossbach.asp.
4. Discussion of armaments: Ibid.
5. The armed forces: William Shirer, The Rise and Fall of the Third Reich, p. 318.
6. Demands one Reich: Adolf Hitler, Mein Kampf, p. 3.
7. March into Austria: Kurt von Schuschnigg, Austrian Requiem, pp. 3-27.
8. Residing in Czechoslovakia: William Shirer, The Rise and Fall of the Third Reich, pp. 332-333.
9. People and Fatherland: Kurt von Schuschnigg, Austrian Requiem, p. 39.
10. Was a mistake: Dieter Warner and Gerhard Tomkowitz, Anschluss, p. 97-99.
11. Treated as friends: William Shirer, The Rise and Fall of the Third Reich, pp. 337-342.
12. Regard to Austria: Dieter Warner and Gerhard Tomkowitz, Anschluss, p. 48-50.
13. The scheduled referendum: IMT C-102.
14. By phone at 2:45: Kurt von Schuschnigg, Austrian Requiem, pp. 45-48.
15. Nazi government popular: Götz Aly. Hitler’s Beneficiaries, pp. 81-83.
16. As soon as possible: IMT 182-C. Dieter Warner and Gerhard Tomkowitz, Anschluss, p. 140.
17. Homeland to the German Reich: Ibid., p. 194.
18. Return to the building: Norbert Schausberg, Der Griff nach Osterreich, pp. 35-50.
19. Account of the Reich: IMT 2313-PS.
20. Value of 1:1: IMT EC-421.
21. At a rapid rate: HM 115:198.
22. The Vienna bank: IMT E-297-A.
23. New York City: TCA Austria, November 4, 1947. NACP RG59/62D115 Box 14.
24. The takeover simple: Ibid.
25. From Austrian Jews: Ralf Banken, Edelmetallmangel und Groβraubwritschaft p. 291.
26. Escape from persecution: Ibid., pp. 292-302.
27. Million Reichsmark: Adam Tooze, The Wages of Destruction, pp. 245-246.
28. Countries they invaded: GFA, R2501/6446.
29. Balance of payments constraint: Adam Tooze, The Wages of Destruction, p. 246
CHAPTER EIGHT: AN INSIDE JOB AGAINST CZECHOSLOVAKIA
1. Tons of gold: Eduard Kubu, Czechoslovak Gold Reserves and Their Surrender to Nazi Germany, The London Conference, pp. 245-248.
2. Earlier October: Documents on German Foreign Policy, Series D, Vol. II, no. 221, pp. 357-62.
3. Way to German authorities: William L. Shirer, The Rise and Fall of the Third Reich, p. 376.
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4. And flames up: Jodl Diaries, IMT EC-405 and PS-178.
5. The Sudeten Germans: Richard Evans, The Coming of the Third Reich, p. 674.
6. Fallen from heaven: John Toland, Adolf Hitler, pp. 650-651.
7. Cabinet and parliament: Ibid. p. 655.
8. Relationship of confidence: William L. Shirer, The Rise and Fall of the Third Reich, pp. 391-401.
9. On September 29: Harold C. Deutsch, Hitler and His Generals, pp. 401-410. William L. Shirer, The Rise and Fall of the Third Reich, pp. 404-412.
10. We know nothing: BBC Online Archives: “Chamberlain Addresses the Nation on His Negotiations for Peace.”
11. Peace in our time: BBC On This Day.
12. Generals urged restraint: TD, 7971-2.
13. The Slovak economy: Documents on German Foreign Policy, Series D, Vol. VI, pp. 947-48.
14. Orders of the Führer: IMT, XXVIII, p. 373. Jodl Diary, p.167.
15. From that angle: The British War Bluebook, Speech by the Prime Minister at Birmingham on March 17, 1939.
16. Deliver 12.5 tons: Eduard Kubu, Czechoslovak Gold Reserves and Their Surrender to Nazi Germany, p. 246. Gianni Toniolo, Central Bank Cooperation at the Bank for International Settlements, p. 204.
17. Had 74 tons left: Gianni Toniolo, Central Bank Cooperation at the Bank for International Settlements, p. 546.
18. Under German control: IMT, Morning session, May 3, 1946.
19. Remaining Czech gold: Eduard Kubu, Czechoslovak Gold Reserves and Their Surrender to Nazi Germany. pp. 246-247. Gianni Toniolo, Central Bank Cooperation at the Bank for International Settlement, pp. 205-206.
20. In the telegram: J.S. Beyen. Money in a Maelstrom. pp. 137-140.
21. Unilaterally to block it: BA, Treasury Papers, T160/1417.
22. To the Germans: Eduard Kubu, Czechoslovak Gold Reserves and Their Surrender to Nazi Germany, p. 246. Thomas McKittrick Papers, Harvard Business School Library, carton 9, f.2. Gianni Toniolo, Central Bank Cooperation at the Bank for International Settlement, p. 546.
23. Anticipation of war: Gianni Toniolo, Central Bank Cooperation at the Bank for International Settlements, p. 205-213.
24. That was a lie: Paul Einzig, In the Centre of Things, pp. 186-194.
25. Out of Hitler’s hands: Ibid.
26. Governments of those days: J.S. Beyen, Money in a Maelstrom, pp. 137-140.
27. I’ll say you are: HM 170:124-129.
28. At that point: Ibid.