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Nazi Gold: The Full Story of the Fifty-Year Swiss-Nazi Conspiracy to Steal Billions from Europe's Jews and Holocaust Survivors

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Praise for Nazi Gold "A compelling book on one of the greatest robberies of all time."
--Rabbi Marvin Heir, dean, Simon Wesenthal Center " Nazi Gold [is] a compelling, outraged, carefully researched book. . . Tom Bower, one of the finest investigative journalists in the English-speaking world over the past generation. . .is the ideal chronicler for this story. Over the past 20 years he has built up a track record second to none in documenting crimes and conspiracies that the Nazis and their collaborators were able to cover up or escape from in the decades after 1945. . .Riveting, outstanding."
--Martin Sieff, Washington Times " Nazi Gold is an important book that uncovers much new material."
--Saul Friendlunder, author of Nazi Germany and the Jews "Compelling reading."
-- Chicago Jewish Star "[A] sensational expose. . .Impressively revealing."
-- Dade Jewish Star Some Revelations form Nazi Gold

448 pages, Paperback

First published April 1, 1997

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281 people want to read

About the author

Tom Bower

57 books179 followers
For the author of works on child development, see T.G.R. Bower

Tom Bower (born 28 September 1946) is a British writer, noted for his investigative journalism and for his unauthorized biographies.

A former Panorama reporter, his books include unauthorised biographies of Tiny Rowland, Robert Maxwell, Mohamed Al-Fayed, Geoffrey Robinson, Gordon Brown and Richard Branson.

He won the 2003 William Hill Sports Book of the Year Award for Broken Dreams, an investigation into corruption in English football. His joint biography of Conrad Black and Barbara Amiel Conrad and Lady Black: Dancing on the Edge was published in November 2006, and an unsuccessful libel case over a passing mention of Daily Express proprietor Richard Desmond in the book was heard in July 2009.

An unauthorised biography by Bower of Richard Desmond, provisionally entitled Rough Trader, awaits publication. Bowers's biography of Simon Cowell, written with Cowell's co-operation, was published on 20 April, 2012.

Bower is married to Veronica Wadley, former editor of the London Evening Standard, and has four children.

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5 stars
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34 (28%)
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43 (36%)
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11 (9%)
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Displaying 1 - 20 of 20 reviews
Profile Image for Christine.
7,241 reviews573 followers
March 4, 2017
Disclaimer: ARC of the Kindle edition via Netgalley.

When I mention Holocaust Denial someone always asks how can a denier be so stupid, what could motivate someone to deny something so documented. I usually counter with, well, you have people who believed slavery really wasn’t that bad; it’s a little like that. It’s true that such a comment is most likely a facile respond, but it is a hard answer. The reasons seem to run from a desire to shock to a refusal or need to defend the honor of one’s country to straight forward and outright anti-Semitism (not that you couldn’t say the first two points aren’t).

One could also argue that the denial was not something that started long after the war was over. In this book, Tom Bower chronicles the Swiss attempt to keep Nazi gold, stolen from Jewish citizens of various countries. In some case, the gold was in fact deposited by rightful owners who were killed and whose heirs could not inherit because proper documents were not to be had.

It is a maddeningly story, even if Bower’s prose is a little dull. It does call into question how neutral the Swiss were, or how neutrality should be defined. What is chronicled is one part sleight of hand, one part finical and bureaucratic genius, and one part a lack of gall (on behalf of some of those trying to get access to the gold).

In some ways, the cynicism exhibited by the Swiss government and banking establishment seems to suggest a refusal not only of compassion but of realities of the Second World War. A start of denial that might have a grounding in greed or covetous of a monetary gain.
Profile Image for David Hill.
628 reviews16 followers
November 21, 2018
I found this book infuriating. Not the book, surely, but the topic.

I don't really know anything about Swiss banks. But in American pop culture, Swiss banks are depicted as being conservative and upright. Thinking about Swiss banks and the secrecy laws their government enacted over the years, though, leads inevitably to the conclusion that their only real purpose is to hide money. To hide the proceeds of crimes (mafioso, drug cartels, etc), to hide money from governments in pursuit of tax fraud, or to hide assets in nasty divorces.

Obviously, there are some cases where it's not criminal to hide assets for your government. In the early pages of this book we are provided perhaps the best example of this: European Jews getting their assets out of Nazi Germany; to protect their wealth from theft. Surely, the Swiss banks' reputation for honesty and discretion could be counted on.

As it turns out, Jews could not have made a much larger mistake than to trust the Swiss or their banks. Switzerland was nominally neutral, but quite sympathetic to Nazi Germany. Anti-semitism was both virulent and endemic in Europe; it wasn't limited to Germany. In fact, we learn in this book, in the 1930s Switzerland enacted many laws similar to the Nazis'. In 1936, Jewish bankers, members of long-established Swiss families, had been requested by their countrymen to resign their directorships and memberships in the council of the Zurich stock exchange.

Nonetheless, much of the wealth of Europe's Jews was moved to Switzerland, either into bank accounts or into private hands acting as fiduciaries with the idea that these assets would be protected from Nazi theft. Unfortunately, due to a combination of virulent anti-semitism that continued for decades after the end of the war and toxic greed of the bankers, almost none of this wealth was returned to the victims of the Nazis for over fifty years.

Arguably the greatest crime in history is the Nazi theft from and murder of Europe's Jews. A crime of such massive scope couldn't be perpetrated without aid. Much of that aid came from the willing and eager participation of the German population who happily took their Jewish neighbors' apartments and businesses or who gladly enlisted in the SS. And on the financial side, in scenic Swiss valleys safely distant from the concentration camps, the Swiss banks aided and abetted the Nazi crime.

Most of the book deals with the plunder of the Jews. But the Jews weren't the Nazis' only victims. The Nazis stole from everybody. When their armies vanquished their foes, the Nazis confiscated all the gold in the National banks of the defeated nations. Much of this gold was funneled through Swiss banks to other "neutral" countries to finance the Nazi war machine.

I've read extensively about World War II, but until now have come across almost nothing about Switzerland's role. On maps of the time, Switzerland is a blank spot. After reading this book, I'm compelled to read more, to try to fill in that hole. This book is a damning start. The picture it paints is not a flattering one. This book shows Switzerland as a willing partner in Nazi crimes.
Profile Image for Mandy.
3,631 reviews334 followers
July 9, 2017
This is an important – and often shocking – book and one that needed to be written. It’s a great piece of investigative journalism and the author is to be congratulated on his thorough and painstaking research. That said, at times I found the exhaustive detail somewhat exhausting and the style pedestrian when it wasn’t being overblown and outraged. Yes, the subject does indeed lead to outrage but a calmer, more objective tone would have been more appropriate. It’s repetitive, especially in the later part of the book, and too long. And most of all I found the novelistic touches irritating and unnecessary. “O took the stage, narrowing his eyes and hunching his shoulders”. Did he? How do we know? And how do we know if someone “screeched” rather than just stated? I can see that the aim is to give immediacy to the narrative but when the intention is primarily to give the facts I could have done without such embellishments. That said, I learnt a lot from the book and found it illuminating and informative.
Profile Image for Roopkumar Balachandran.
Author 7 books34 followers
March 6, 2017
I received this free Kindle edition through Netgalley.

We Indians last election agenda by the political party is to bring back the black money deposited in Swiss Banks. That did not happened is a sad part. Since this book is about Swiss Banks I choose to read. The Book authored by Tom Bower has given exhaustive details of Swiss Government & Banks on denying to return the gold and money deposited by Jews during World War II. I had very little knowledge about this denial. This book had helped me to better understand the background and persons involved.

As there is another side of a story, I like to know how Swiss has suffered when they stood neutral in the war. Their neutrality is often questioned, and the author has given very less information.

The first 25% of the book was fast paced and then it started to drag and at sometimes the prose looked like reading a magazine and newspaper clippings.
Profile Image for Toni Osborne.
1,607 reviews53 followers
March 19, 2017
This book was first published in 1997 and republished as an Ebook by Open Road Media in March 2017. I received an invitation by the publisher to read and review this book via NetGalleys.

Tom Bower, a British journalist, chronicles the 50 years of greed between the Third Reich and the government of Switzerland and the Swiss banking industry. Millions of dollars, gold pilfered from occupied country including gold teeth extracted from the mouth of those murdered were hidden away in Swiss bank accounts. The crimes didn’t end with the end of the war. The Swiss authorities hid the wealth from the rightful owners for the next half a century. Finally when a class action was launched by the Wold Jewish Congress against the Swiss banks a settlement was reached and millions of dollars were released in the late 90’s.”Nazi Gold” tells how it took a huge amount of time and patience to reach a fair conclusion.

Mr. Bower not doubt has put his heart into writing an account in great details. It seemed well-researched with first rate sources to back his statements. I was quite interested for part of the book but after a while the narration became too technical, highly colourful and particularly overwhelming. I found to presentation to be done in a journalistic manner: rather cold and in a sharp tone. Mid way, I thought things were going in circle and I lost interest, the writing was somewhat repetitious so I kept skipping parts to see the outcome in this grizzle chapter of history. Even if I was not totally captivated by this book it nevertheless gave me a better appreciation of the Swiss government involvement with Germany and the perfidies of the Swiss banking system.
Profile Image for Icy_Space_Cobwebs  Join the Penguin Resistance!.
5,652 reviews330 followers
March 23, 2017
Review NAZI GOLD by Tom Bower

The depredations of the Third Reich did not really end with the Allied victory in 1945. In science, in politics, and in fraud, surviving Nazis continued to wreak havoc in the name of greed and ideology. Top UK investigative journalist Tom Bower has researched the ongoing Nazi defrauding of Jews and other ethnicities for art, gold, and other valuables. Here he presents “the real story,” vividly and clearly. Readers will be shocked to discover the facts about “NAZI GOLD” in this book, “The Full Story of the Fifty-Year Swiss-Nazi Conspiracy to Steal Billions from Europe's Jews and Holocaust Survivors.”The Full Story of the Fifty-Year Swiss-Nazi Conspiracy to Steal Billions from Europe's Jews and Holocaust Survivors
The Full Story of the Fifty-Year Swiss-Nazi Conspiracy to Steal Billions from Europe's Jews and Holocaust Survivors
The Full Story of the Fifty-Year Swiss-Nazi Conspiracy to Steal Billions from Europe's Jews and Holocaust Survivors
Profile Image for Bruce Greene.
45 reviews1 follower
February 26, 2019
This book is very readable and loaded with deceit, greed, dishonesty, hypocrisy, anti-Semitism and amorality, good guys, bad guys and a few heroes. What else could you ask for in a work of non-fiction? I don't quite understand why its rating is so average. At its core it extends the holocaust about 50 years past the end of WWII.
Profile Image for Biblio Files (takingadayoff).
609 reviews295 followers
March 24, 2017
This was a fairly intense book, for several reasons. First, the subject was the long battle for access to the contents of Swiss bank accounts belonging to European Jews who had died during the Nazi period, a topic which in addition to the horror of the Holocaust, includes families broken apart and having to start from scratch after the war. Second, it's a detailed account of the many exacting and often infuriating negotiations between the Swiss bankers and Swiss government, and the American government and representatives of claimants to the accounts. And finally, the author, Tom Bower, tells the story with passion and dos not hide his contempt for the actions of the Swiss bankers and other Swiss collaborators.

For all the lip service the Swiss paid to being neutral, they were anything but. They were being pressured by both the Nazis and the Allies to cooperate in various ways, but early on, the Swiss mostly decided their sympathies and interests were with the Nazis. This seemed to last well after the war was over. Nazi Gold is not an easy book to read, but it's important and well documented.

(Thanks to NetGalley and Open Road Media for a digital review copy. )
1,250 reviews15 followers
April 16, 2021
This true tale of how the Swiss sole assets from Jews during WWII horrified me and made me wish we had not visited there. It was kept hidden from most of the world for 50 years! Incredible! Their lies, omissions, and delays meant that billions of dollars of gold and other valuables were not returned to the rightful owners or heirs. I feel sick about it. Read at your own risk.
Profile Image for pierre bovington.
259 reviews
March 22, 2025
Hard work, is probably my fault. I had to reread several sections as the detail was overwhelming. If I ever end up in court, I hope my brief is as thorough as the author, Tom Bower.
Rebel King and Rebel Prince were also enjoyable, but Nazi Gold needs a notebook and pencil at your side if the reader wants a fuller experience.
203 reviews
July 14, 2022
WOW! What a blockbuster of a story, with over 30 pages of references! The Swiss colluded with the Germans to accept their stolen loot, gold ingots and artwork. They helped the Germans ship much to South America and other countries. After WW2, the Swiss did everything they could to keep the Jews from claiming their rightful inheritances or return property to plundered countries. It took over 50 years for the issue of the heirless moneys to be given to appropriate individuals or organizations. Millions of dollars, billions in today's world, were involved!
4 reviews
December 17, 2025
This book is basically terrible. Really poor pacing leaves the reader trudging through years of Swiss duplicity and obfuscation. The author' sentence structure often left me confused about what exactly the author intended to convey.

The subject matter itself is fascinating and horrifying. Hopefully there's a better book out there about Swiss profiteering from Nazi's and their victims.
17 reviews
May 20, 2024
Long and overly detailed. I thought the book would never end and the ending was anticlimactic.
Profile Image for Jayde Schwerin.
317 reviews1 follower
October 20, 2025
Tom Bower is a brilliant writer. All his work is based on fact... he does very thorough research. A very informative book indeed.
Profile Image for Dave.
259 reviews8 followers
December 24, 2017
Review originally published at Book of Bogan.

I am not sure where to begin with this review, and as it deals with very difficult subject matter at time, and therefore I would not want my rating to be considered a commentary on the events that are described in the book.

Needless to say, I don't think that there are many who could read this book without feeling a burning hatred, or at the very least contempt, for the people who took advantage of Swiss banking laws to shield themselves from their actions during and after the second world war. While this book is titled Nazi Gold, I feel as though this is somewhat inaccurate, as it is in fact that gold of the Jews of Europe, which was stolen by the Nazis. And to be perfectly frank, it is the story of the Swiss bankers, politicians and bureaucrats, rather than predominantly about the Nazis.

I found this book a rather frustrating read, which I can only imagine reflects in a minute way the frustration of the families who were caught up in this horrible situation. Reading about the events, delays, deceptions, and bureaucratic bloody-mindedness over the course of fifty years did get rather repetitive, and although some of the names and faces changed over time, the excuses and the prevarications stayed the same. I felt - rightly or wrongly - that I was reading the same story over and over again as I progressed through the book.

Was the subject matter interesting, and well-explored? Sure.

Was the writing style engaging? Not particularly, and I felt like it did not build a solid narrative that resolved itself effectively, despite several end chapters.

I have found that there are non-fiction books which have mass-market appeal, and then there are those which will cater to, or be of interest to, only certain demographics, or people with an interest in such things. I feel - sadly - that this book falls into the latter category, as a result of its length, the cyclical repetitive nature of the writing, and a book which is filled mostly with villainous bureaucrats. While it dealt with the subject matter with extreme sensitivity, I don't think I could have stuck it out to the end if I were not reading it for review.

I received a copy from the publisher through NetGalley in exchange for an honest review.
Profile Image for Karen Lee-Johnston.
191 reviews1 follower
December 6, 2018
This wasn't a bad read, it wasn't a great read either! It highlighted an area of history that I didn't know anything about! It did however at points become like a sermon, when it should be more evenly balanced! You can have moral outrage at the Swiss but equally if you're unable to keep you're feelings separate, then this area of history is not for you!
889 reviews7 followers
March 28, 2017
This book was never-ending and dry. The author repeated himself over and over again. I love history, but was very happy to be done with this book.
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