Why the Nazis Were Desperate for Gold


TIME

History News Network

This post is in partnership with the History News Network, the website that puts the news into historical perspective. The article below was originally published at HNN.

It was the greatest robbery in world history. During World War II, the German Nazi government robbed more than 600 tons of European gold. That bullion was vitally important for the financing of the German army’s wars of conquest that started with the invasion of Austria in 1938. At that time, the gold was worth $600 million, but at today’s price for bullion it would be worth $22 billion.

Adolf Hitler had nothing but contempt for gold or money, believing that the only things that really mattered in politics and warfare were willpower and brute force. His top financial man was Hjalmar Horace Greeley Schacht, a respected banker who was responsible for ending the infamous German inflation after World…

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