Newspaper article St Louis Post-Dispatch (MO)

Author Says Swiss Profited from Holocaust

Newspaper article St Louis Post-Dispatch (MO)

Author Says Swiss Profited from Holocaust

Article excerpt

Switzerland's archives reveal a 50-year conspiracy by Swiss bankers to hide Nazi loot, steal deposits from European Jews and prevent Holocaust victims from receiving adequate reparations, the author of a new book says.

"Switzerland since the war has been paraded as a small humanitarian country, and nobody has ever exposed that its wealth is based on profiting from crime," said the author, Tom Bower, in an interview. "The Swiss dishonestly profited from the misery of Europe."

Using material from the U.S., British, French and Swiss national archives, Bower, a British journalist, traces how the Swiss banks and the Swiss government exploited World War II for financial advantage. The book, titled "Nazi Gold" in the United States and "Blood Money" in B ritain, will be published early next month. It is being serialized in The Sunday Times of London. The book says the declared deposits in Swiss banks soared from 332 million Swiss francs in 1941 to 846 million Swiss francs in 1946, and its gold reserves doubled from $503 million to $1.04 billion. Yet, the Swiss denied that German treasure trove was hidden in their country. Bower, a former lawyer who writes about politics, finance and the Nazi era, was asked to write about the Swiss-Nazi connection by the staff of Sen. …

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