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Chasing Gold: The Incredible Story of How the Nazis Stole Europe's Bullion
For the entire history of human civilization, gold has enraptured people around the globe. The Nazis was no less enthralled by it, and felt that gold was the solution to funding Hitler's war machine. Gold was also on the mind of FDR across the Atlantic, as he worked with Europe's other leaders to bring the United States and the rest of the world out of a severe depression. FDR was hardly the first head of state to turn to gold in difficult times. Throughout history, it has been the refuge of both nations and people in trouble, working at times when nothing else does. Desperate people can buy a loaf of bread or bribe a border guard. Gold can get desperate nations oil to keep tanks running or munitions to fight a war. If the price is right, there is always someone somewhere willing to buy or sell gold. And it was to become the Nazi's most important medium of exchange during the war.
Chasing Gold is the story of how the Nazis attempted to grab Europe’s gold to finance history’s bloodiest war. It is filled with high drama and close escapes, laying bare the palate of human emotions. Walking through the tale are giants of world history, as well as ordinary people called upon to undertake heroic action in an extraordinary time.
Chasing Gold is the story of how the Nazis attempted to grab Europe’s gold to finance history’s bloodiest war. It is filled with high drama and close escapes, laying bare the palate of human emotions. Walking through the tale are giants of world history, as well as ordinary people called upon to undertake heroic action in an extraordinary time.
500 pages, Kindle Edition
First published December 15, 2014
26 people are currently reading
1024 people want to read
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Displaying 1 - 27 of 27 reviews
December 3, 2015
It's really all in the details--and you won't find a lack of them in this book. Whilst this is a very interesting book, and very well researched--the details cause it to lag a bit here and there.
I was fascinated by all the struggles various countries went through trying to protect their national treasures from the Nazis, and I loved the information on the various political alliances that were formed around the idea of protecting that gold.
George M. Taber writes intelligently and entertainingly and manages to tell a complete story worth reading in this book, but I could have done without some of the minutiae. The smaller details about the removal of the gold, the loading and unloading, in my opinion, took away from the interesting part of the story, in my opinion.
Overall, I still thought this was a really good book and feel comfortable recommending it to anyone interested in this period of history.
This review is based on a complimentary copy from the publisher. All opinions are my own.
I was fascinated by all the struggles various countries went through trying to protect their national treasures from the Nazis, and I loved the information on the various political alliances that were formed around the idea of protecting that gold.
George M. Taber writes intelligently and entertainingly and manages to tell a complete story worth reading in this book, but I could have done without some of the minutiae. The smaller details about the removal of the gold, the loading and unloading, in my opinion, took away from the interesting part of the story, in my opinion.
Overall, I still thought this was a really good book and feel comfortable recommending it to anyone interested in this period of history.
This review is based on a complimentary copy from the publisher. All opinions are my own.
July 24, 2022
Gold is the universal standard of wealth through the ages and is accepted by many as valuable. The Nazis knew as President Herbert Hoover that people trust gold over governments and used it to fuel their war machine. What really got me incensed in the book was how the Swiss hypocritically handled Nazi gold including what was taken from death camp victims while telling the Allies they were a poor neutral peaceful country. Much gold was looted by the Nazis and found by George S Patton in salt mines in huge amounts. The book fails to present history in a great narrative like Erik Larsen but it still was interesting in places.
June 26, 2015
“There is no doubt that some gold taken from the concentration-camp victims has found its way into bars and today sits in the world’s central banks vaults, probably including those of the New York Federal Reserve .”
“Chasing Gold” by George M. Taber is the story of the Nazi’s quest to conquer all the gold in Europe and eventually the world in their conquest for more land. They needed the money to fund their war machine and used the stolen gold to purchase materials to create more guns, tanks, planes and other war related items. I have always had a hard time answering the question regarding Hitler’s economic policies. I have been told they failed but always wondered how that could be when he was able to run a great army. I now know that he did it all on borrowed and stolen gold from the countries he conquered.
At times the story sounds like a cat and mouse chase as the Allies attempted to get the gold to America before the Nazi’s could find and control it. There were some wins and many misses here, which make this book very entertaining.
The most difficult section for me was the chapter on the concentration-camp gold taken from the victims’ teeth or jewels they had hidden away. It’s a heartbreaking reminder of the cruelty of humankind against others just like them. Of course, they were able to justify it in their own minds by creating monsters of people whose crime was their religion, race or sexual orientation.
There is also a section on the Americans discovering the art and gold hidden by the Nazi’s which is covered completely in “Monuments Men” by Bret Witter and Robert M. Edsel. This was the feel good chapter for me.
Mr. Taber wrote for Time magazine for many years before turning to books. He tells us that most of what is written in “Chasing Gold” was during his tenure at Time and that finally he was able to piece together the whole puzzle of the gold that Nazi Germany stole from the conquered countries.
I found this book to be credible, well researched and catalogued. The maps and pictures made it easier to follow. I received this book from Pegasus books for an honest review.
I highly recommend this book for anyone with an interest in World War II and in the financial world in the 1930’s to 1940’s.
“Chasing Gold” by George M. Taber is the story of the Nazi’s quest to conquer all the gold in Europe and eventually the world in their conquest for more land. They needed the money to fund their war machine and used the stolen gold to purchase materials to create more guns, tanks, planes and other war related items. I have always had a hard time answering the question regarding Hitler’s economic policies. I have been told they failed but always wondered how that could be when he was able to run a great army. I now know that he did it all on borrowed and stolen gold from the countries he conquered.
At times the story sounds like a cat and mouse chase as the Allies attempted to get the gold to America before the Nazi’s could find and control it. There were some wins and many misses here, which make this book very entertaining.
The most difficult section for me was the chapter on the concentration-camp gold taken from the victims’ teeth or jewels they had hidden away. It’s a heartbreaking reminder of the cruelty of humankind against others just like them. Of course, they were able to justify it in their own minds by creating monsters of people whose crime was their religion, race or sexual orientation.
There is also a section on the Americans discovering the art and gold hidden by the Nazi’s which is covered completely in “Monuments Men” by Bret Witter and Robert M. Edsel. This was the feel good chapter for me.
Mr. Taber wrote for Time magazine for many years before turning to books. He tells us that most of what is written in “Chasing Gold” was during his tenure at Time and that finally he was able to piece together the whole puzzle of the gold that Nazi Germany stole from the conquered countries.
I found this book to be credible, well researched and catalogued. The maps and pictures made it easier to follow. I received this book from Pegasus books for an honest review.
I highly recommend this book for anyone with an interest in World War II and in the financial world in the 1930’s to 1940’s.
September 25, 2015
This book was recommended to me because I enjoyed Monuments Men and other books about the fate of Europe’s valuables during WWII. But this was not nearly as engaging in its focus on the one commodity that sustained the German war machine: gold. Countries who faced invasion by the Nazis had two options: send their gold reserves overseas for safekeeping or risk it being confiscated by its conquerors. Many countries were smart enough to do the former and a majority had the foresight to get their gold to Britain or America. A majority of the book details the logistical minutiae of packing, loading, and shipping the gold, it’s value and tonnage, and all of the government officials, finance ministers, bank executives, et al, involved in protecting it. It became very redundant, so much so that I found myself skimming a good portion of it.
There were some interesting aspects worth noting, like Hitler’s own blasé attitude towards gold. “Hitler never worried about economic issues because he never understood them. He thought that willpower was all that mattered.” One of the saddest chapters addressed the fate of “Melmer Gold,” or the personal jewelry and treasures of the people sent to death camps. Much of it was melted down to create gold bars, so that reparations could never be made since the impossibility of identifying it, “…would be like trying to identify a grain of wheat in a loaf of bread.”
No doubt, this book is historically significant, but it is very dry. The economical rhetoric just didn’t keep me engaged and I really struggled with the tedium of following the gold either across the Atlantic or into the German coffers.
I received a complimentary copy of this book from the publisher.
There were some interesting aspects worth noting, like Hitler’s own blasé attitude towards gold. “Hitler never worried about economic issues because he never understood them. He thought that willpower was all that mattered.” One of the saddest chapters addressed the fate of “Melmer Gold,” or the personal jewelry and treasures of the people sent to death camps. Much of it was melted down to create gold bars, so that reparations could never be made since the impossibility of identifying it, “…would be like trying to identify a grain of wheat in a loaf of bread.”
No doubt, this book is historically significant, but it is very dry. The economical rhetoric just didn’t keep me engaged and I really struggled with the tedium of following the gold either across the Atlantic or into the German coffers.
I received a complimentary copy of this book from the publisher.
October 10, 2015
I've read a lot of WW 2 books but this one was a different angle - talking about the financial aspects. Good story in the beginning but slowed down as things went along. Interesting to see how the different countries handled their gold and their dealings with Germany.
July 2, 2016
Fascinating book detailing the role of gold during WWII. As a previous reviewer mentioned, this book has plenty of detail and sometimes too much, which made reading some sections onerous. Overall, a well researched and engaging book with plenty informative anecdotes along the way!
November 25, 2020
A very informative read on the role gold played in WWII. The book details how the Nazi's made gold seizures from the invaded countries to finance their war efforts. Gives a great look at what what on behind the scenes on both Nazi and Allied sides.
April 10, 2020
Decent historical overview on how Nazi Germany financed their war machine through looted gold bullion from invaded countries. A long read best suited for students of international banking.
January 12, 2025
Gold has been captivating people throughout the history. While today it could be use in semiconductor and the likes, in the past it has no practical use other than being used to create jewellery. However, it is also softer and more malleable than other metal, making it easier to be coined. Jump start to the post-World War Era, when the defeated German Empire was turned into Weimar Republic, its politics was unbearably shaky, with communists and fascists and other right-wingers fighting in the streets almost daily. Its economy spiralled into hyperinflation due to punitive costs imposed to them by the Entente as stipulated by the Treaty of Versailles.
Enter Hjalmar Horace Greeley Schacht. President of Reichsbank. He masterminded German’s economic recovery, by negotiating the amount of money paid to the Entente and ended the Inflation. Schacht’s rises coincided with the ascension of Adolf Hitler and the Nazi Party, and they had common interest in seeing Germany back to its former greatness through autarky and amassing huge amount of gold to fund it. However, like others before him, Schacht naively believed by his mastery of economics, he could bent Hitler and the Nazis to his will. In this, he was horribly wrong.
As Nazi Germany rearmament gathered pace, Schacht became increasingly sidelined as the Nazis took over German economy on their own. And, as Germany began its expansion, it stole gold bullions from the conquered territories to fund its war machine. This book chronicled how the belligerents tried to save its gold supply from Germany, mostly by shipping it to America. The book also describes how neutral countries such as Swiss, Sweden, Portugal and Spain became complicit in keeping the Nazi war machine going by accepting the stolen gold as means of transaction between them and the Nazis. The Swiss became one of the main villain by storing many of Germany’s stolen golden bullions and converting it to Swiss Francs.
Overall, I am mostly interested with the role of Hjalmar Schacht in formulating Nazis’ economic policy, at least during the early days, and gold had became an important part of it. I need to look for his biography next.
Enter Hjalmar Horace Greeley Schacht. President of Reichsbank. He masterminded German’s economic recovery, by negotiating the amount of money paid to the Entente and ended the Inflation. Schacht’s rises coincided with the ascension of Adolf Hitler and the Nazi Party, and they had common interest in seeing Germany back to its former greatness through autarky and amassing huge amount of gold to fund it. However, like others before him, Schacht naively believed by his mastery of economics, he could bent Hitler and the Nazis to his will. In this, he was horribly wrong.
As Nazi Germany rearmament gathered pace, Schacht became increasingly sidelined as the Nazis took over German economy on their own. And, as Germany began its expansion, it stole gold bullions from the conquered territories to fund its war machine. This book chronicled how the belligerents tried to save its gold supply from Germany, mostly by shipping it to America. The book also describes how neutral countries such as Swiss, Sweden, Portugal and Spain became complicit in keeping the Nazi war machine going by accepting the stolen gold as means of transaction between them and the Nazis. The Swiss became one of the main villain by storing many of Germany’s stolen golden bullions and converting it to Swiss Francs.
Overall, I am mostly interested with the role of Hjalmar Schacht in formulating Nazis’ economic policy, at least during the early days, and gold had became an important part of it. I need to look for his biography next.
December 9, 2021
Meticulously researched and mostly fascinating account of the Nazis parallel acquisition of the gold reserves of the countries they invaded. Without this gold, it's doubtful whether they would have been able to assemble the successful war machine. The story of their looted artworks is better known, but this story not well at all, except to specialist historians of Naziism and World War 2.
I agree with other reviewers that in places it seems to bog down in minute detail, but overall I enjoyed it. It pleases my ego that after reading this I'm probably the expert on Nazi war finance amongst my circle of acquaintances. Not that any one of them would probably care even the tiniest bit. Hey, you take your wins where you can.
I agree with other reviewers that in places it seems to bog down in minute detail, but overall I enjoyed it. It pleases my ego that after reading this I'm probably the expert on Nazi war finance amongst my circle of acquaintances. Not that any one of them would probably care even the tiniest bit. Hey, you take your wins where you can.
July 12, 2023
I really enjoyed this book. I was expecting a hunt for Nazi gold type situation, and boy was I in for more than I bargained for.
There are so many different facets to World War 2 and this is one of the more interesting ones, covering the Nazi occupations and attempted seizure of national treasures that naturally follow.
The role this played in decision making could not be understated and is conveyed well in the before gold seizure military unit numbers to the after numbers, in some cases allowing the number of division to be expanded 10 fold.
I was also surprised at the assets allocated to protecting and finding the gold, all the way up the chain to famous ships and generals.
I got a lot from this one.
There are so many different facets to World War 2 and this is one of the more interesting ones, covering the Nazi occupations and attempted seizure of national treasures that naturally follow.
The role this played in decision making could not be understated and is conveyed well in the before gold seizure military unit numbers to the after numbers, in some cases allowing the number of division to be expanded 10 fold.
I was also surprised at the assets allocated to protecting and finding the gold, all the way up the chain to famous ships and generals.
I got a lot from this one.
February 7, 2022
This book is incredibly well researched. If you want to know about where almost every ounce of gold traveled in the world during WW2, then this is the book for you. Unfortunately, that is the problem with the book. It's a pretty boring subject so constantly hear about gold traveling from one place to another. There are a few good stories in there of harrowing journeys of gold bullion, but not enough for me to give this any more than 3 stars.
April 18, 2022
Fascinating and well-researched. This isn't about various battles of WWII, but about banking and the gold needed to back it. I was amazed by the many many secret trips by boat, train, truck, plane, etc back and forth across Europe, the UK, Canada, and the U.S by countries trying to hide their gold from the Nazis. Then as the end neared, the Nazis were doing the same trying to hide it from the Allies.
March 6, 2022
Excellent work. The author tracks the movement in f gold during WWII, as European nations struggle to protect their sovereign wealth (gold) from the nazis. It documents the incredible collusion and atrocities perpetrated during that time to grab/steal gold, hide it, or use it as an instrument of domination. Worth reading it!
January 30, 2018
Here I thought a book about Nazis and Gold would be interesting , the book reads like a ship line itinerary
November 23, 2019
An interesting, well-written book. What puts me back is there are inexplicable blunders. Chapter 3, page 26: '...that followed World War I. Inflation began picking up in April 1918 shortly after the conflict ended...' I don't know if they refer to November 1918, or April 1919 or what. Chapter 8, page 110: ...on March 1939... That same day, German troops marched into Slovakia and a week later, Ribbentrop and Dr. Vojtech Tuka, the new leader of the puppet Czech state signed a Treaty of Protection (??? As far as I know, they marched into Bohemia and Moravia (called the Czech Republic today) and declared it Protectorate Bohemia and Moravia. Slovakia, at the behest of Germany, declared independence. Vojtech Tuka was a member of the Slovak(ian) government, NOT the Czech, not its leader - that was Dr. Jozef Tiso - and yes, probably the Augher meant Slovakia, that was a puppet state, more or less, doing Hitler's bidding. It really makes me think. Are these errors just misprints? Or did someone mix it up? Or worse, was it poorly researched? Could such erroneous statements be also found elsewhere in the book, describing events I'm not familiar with? Otherwise, it's a very compelling tale. Haven't finished reading it still. Has anyone found other inconsistencies?
January 17, 2015
Taber reveals one of World War 2’s darkest secrets in this compulsively readable account of how the Nazis funded their war machine. His meticulous research dates back to a 1966 Time assignment when Taber was taked with trying to locate where Belgium’s $204.9 million of bank gold ended up during WW2 Each chapter focuses on a different European country with a map, citing the number of tons of gold in its reserves at the outset of WW2. To achieve Hitler’s diabolical objective of world domination required more financing than the Reichsbank could bankroll. After seizing $150 million in bullion from Austria and Czechoslovakia, the Germans had the funds to invade Poland and beyond despite resistance from Hitler’s top economist, Dr. Horace Greeley Hjalmar Schacht.If only Schacht had prevailed over Hitler! What emerges as truly incredible is how ‘neutral’ parties such as Switzerland-- ‘totally pro-Swiss and amoral when it came to financial transactions with the Nazis’ -- and Sweden laundered stolen gold. Spoiler alert: Taber traces much of the stolen Belgian bullion to Romanian National Bank, where it was traded for oil.
July 17, 2015
The author does a great job of taking a highly complex subject matter, global economics, and turns it into an irresistible story. Although not a chronological telling, he effectively tells of the politics, world events, and rise of the Nazi leadership in Germany, and the often unseen players in world economies-- the central bankers.
Although the book was interesting and hard to put down, I was a little confused about the author's central theme. It is unclear if he is trying to play a neutral teller of events (unlikely given his language) or if there was a broader message that was without thesis or conclusion. Overall, I am glad that I read it and feel I learned a fair amount about events that otherwise would have been buried by history. It deserves 3.75 stars.
Although the book was interesting and hard to put down, I was a little confused about the author's central theme. It is unclear if he is trying to play a neutral teller of events (unlikely given his language) or if there was a broader message that was without thesis or conclusion. Overall, I am glad that I read it and feel I learned a fair amount about events that otherwise would have been buried by history. It deserves 3.75 stars.
January 8, 2015
The true stories Taber relates are exciting and the people involved in saving the gold were real heroes -- ones who put their lives at risk to move their countries' gold to safety. Taber endowed the narrative with an almost thriller aspect that kept me fully engaged. He also successfully conveyed the real life drama involved with those saving the gold, especially the Norwegian and Dutch efforts. For a WWII buff like me, and for those who saw "The Monument Men" film, this is a must read.
For my full review, visit: http://myshelf.com/history/13/chasing...
For my full review, visit: http://myshelf.com/history/13/chasing...
March 29, 2015
Tuesday 3 March; 50 minutees
Saturday 7 March: 40 minutes
MOnday 9 march: 80 minutes
Monday March 16: 50 minutes
Tuesday March 17: 30 minutes
Thursday March 18: 20 minutes
Saturday March 21: National Geographic Magazine 90 minutes
Sunday March 22: 30 minutes
Friday March 27: New Yorker Magazine 80 minutes
Sunday March 29: Week Magazine 40 minutes
Saturday 7 March: 40 minutes
MOnday 9 march: 80 minutes
Monday March 16: 50 minutes
Tuesday March 17: 30 minutes
Thursday March 18: 20 minutes
Saturday March 21: National Geographic Magazine 90 minutes
Sunday March 22: 30 minutes
Friday March 27: New Yorker Magazine 80 minutes
Sunday March 29: Week Magazine 40 minutes
January 28, 2016
I honestly believe either in a lake, some farm or buried under old rubble lies gold stole by the third reich. This was a fascinaticing read, one for the bookshelf, and continual reference for research.
December 29, 2014
(Received this as part of a first reads giveaway)
September 2, 2016
Interesting book, better suited to the boys
February 24, 2015
Seems like this story could have been better than this book told it.
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April 7, 2016
WWII from the point of view of the gold that financed it. Extensive research.
April 15, 2017
What I expected was a Indiana Jones-esque story about the Nazis stealing gold during their conquests. What I got was a interesting and informative description of the gold standard and its importance to the economic and financial systems. George M. Taber also brings together this explanation of why the gold was so important to the Nazi war machine with personal stories of the men and women of Europe who were involved in either building up and supplying the Nazis or those who were able to keep gold out of their hands. In describing the evacuation of the gold from countries like Norway and the Netherlands, Taber gives the reader adventures of close calls and amazing rescues, while keeping his eye on the larger story of Nazi conquests. The last few chapters on how the gold was rescued and restored was also very interesting.
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